Roth Mkm Reaffirms “Buy” Rating for High Tide (NASDAQ:HITI)

Roth Mkm restated their buy rating on shares of High Tide (NASDAQ:HITI) in a research report released on Monday, Benzinga reports. The firm currently has a $4.50 price target on the stock.

Separately, TheStreet upgraded shares of High Tide from a d rating to a c- rating in a report on Friday, March 15th.

High Tide Trading Down 1.5 %

HITI opened at $2.03 on Monday. High Tide has a twelve month low of $1.14 and a twelve month high of $2.30. The company has a quick ratio of 0.69, a current ratio of 1.13 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average of $1.80 and a 200-day moving average of $1.67. The stock has a market cap of $160.26 million, a PE ratio of -6.15 and a beta of 0.49.

High Tide (NASDAQ:HITI) last posted its quarterly earnings results on Monday, March 18th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $94.76 million during the quarter, compared to analysts’ expectations of $94.43 million. High Tide had a negative net margin of 7.46% and a negative return on equity of 2.03%. During the same period last year, the company posted ($0.05) earnings per share. On average, sell-side analysts predict that High Tide will post -0.01 EPS for the current year.

Institutional Investors Weigh In On High Tide

A number of large investors have recently bought and sold shares of HITI. Renaissance Technologies LLC bought a new position in shares of High Tide in the second quarter valued at $29,000. Citigroup Inc. bought a new position in shares of High Tide in the first quarter valued at $53,000. Jane Street Group LLC lifted its stake in shares of High Tide by 279.7% in the first quarter. Jane Street Group LLC now owns 53,384 shares of the company’s stock valued at $72,000 after buying an additional 39,324 shares in the last quarter. Millennium Management LLC bought a new position in shares of High Tide in the second quarter valued at $80,000. Finally, Royal Bank of Canada lifted its stake in shares of High Tide by 162.9% in the first quarter. Royal Bank of Canada now owns 18,961 shares of the company’s stock valued at $86,000 after buying an additional 11,748 shares in the last quarter. 4.52% of the stock is currently owned by institutional investors and hedge funds.

About High Tide

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.