High Tide Inc. (NASDAQ:HITI) Short Interest Up 5.9% in January

High Tide Inc. (NASDAQ:HITI) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 4,290,000 shares, an increase of 5.9% from the December 31st total of 4,050,000 shares. Currently, 5.9% of the company’s stock are short sold. Based on an average daily volume of 798,100 shares, the days-to-cover ratio is presently 5.4 days.

High Tide Price Performance

Shares of NASDAQ HITI opened at $2.79 on Monday. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $225.71 million, a PE ratio of -93.00 and a beta of 0.48. The stock’s 50 day moving average price is $3.11 and its 200-day moving average price is $2.55. High Tide has a twelve month low of $1.57 and a twelve month high of $3.62.

High Tide (NASDAQ:HITI) last announced its earnings results on Wednesday, January 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). High Tide had a negative net margin of 0.81% and a negative return on equity of 2.94%. On average, equities analysts anticipate that High Tide will post 0.01 EPS for the current year.

Institutional Investors Weigh In On High Tide

Several large investors have recently modified their holdings of HITI. Chicago Partners Investment Group LLC bought a new position in shares of High Tide during the 4th quarter worth $451,000. Jane Street Group LLC lifted its holdings in High Tide by 58.8% during the 3rd quarter. Jane Street Group LLC now owns 35,252 shares of the company’s stock worth $72,000 after purchasing an additional 13,052 shares in the last quarter. Finally, Benin Management CORP boosted its stake in High Tide by 100.0% in the 4th quarter. Benin Management CORP now owns 20,000 shares of the company’s stock worth $62,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 4.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Roth Capital upgraded High Tide to a “strong-buy” rating in a report on Friday, November 8th.

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.