High Tide Inc. Forecasted to Post FY2024 Earnings of ($0.04) Per Share (NASDAQ:HITI)

High Tide Inc. (NASDAQ:HITI) – Equities researchers at Atb Cap Markets boosted their FY2024 EPS estimates for shares of High Tide in a report released on Wednesday, September 18th. Atb Cap Markets analyst F. Gomes now forecasts that the company will post earnings per share of ($0.04) for the year, up from their previous estimate of ($0.05). The consensus estimate for High Tide’s current full-year earnings is ($0.03) per share. Atb Cap Markets also issued estimates for High Tide’s Q4 2024 earnings at ($0.04) EPS, FY2025 earnings at ($0.02) EPS, FY2026 earnings at $0.11 EPS, FY2027 earnings at $0.24 EPS and FY2028 earnings at $0.36 EPS.

High Tide (NASDAQ:HITI) last issued its quarterly earnings data on Monday, September 16th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. High Tide had a negative return on equity of 1.06% and a negative net margin of 7.07%. The business had revenue of $96.04 million during the quarter, compared to analysts’ expectations of $93.70 million. During the same period in the previous year, the firm posted ($0.03) earnings per share.

Several other equities research analysts also recently weighed in on the stock. Ventum Cap Mkts raised shares of High Tide to a “strong-buy” rating in a research note on Tuesday, July 16th. Roth Mkm reiterated a “buy” rating and issued a $4.50 target price on shares of High Tide in a report on Wednesday, September 18th.

High Tide Stock Down 1.4 %

Shares of NASDAQ:HITI opened at $2.11 on Monday. The firm has a market capitalization of $169.74 million, a PE ratio of -6.59 and a beta of 0.47. High Tide has a 1 year low of $1.14 and a 1 year high of $2.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.17 and a quick ratio of 0.72. The firm’s 50-day moving average is $1.96 and its two-hundred day moving average is $2.12.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HITI. Virtu Financial LLC purchased a new stake in High Tide during the first quarter worth approximately $153,000. Quadrature Capital Ltd purchased a new stake in High Tide in the first quarter valued at $32,000. Baader Bank Aktiengesellschaft boosted its stake in High Tide by 25.9% in the second quarter. Baader Bank Aktiengesellschaft now owns 251,741 shares of the company’s stock valued at $555,000 after acquiring an additional 51,741 shares in the last quarter. Perritt Capital Management Inc grew its holdings in shares of High Tide by 92.3% during the second quarter. Perritt Capital Management Inc now owns 125,000 shares of the company’s stock worth $276,000 after purchasing an additional 60,000 shares during the last quarter. Finally, Perritt Capital Management Inc. acquired a new stake in shares of High Tide during the first quarter worth about $132,000. Hedge funds and other institutional investors own 4.52% of the company’s stock.

High Tide Company Profile

High Tide Inc engages in the cannabis retail business in Canada, the United States, and internationally. The company operates through Retail and Wholesale segments. It operates licensed retail cannabis stores; and provides data analytics services. In addition, the company manufactures and distributes consumption accessories.