High Tide Inc. (NASDAQ:HITI) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of High Tide Inc. (NASDAQ:HITI) have been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $6.1250.

Several research analysts have commented on HITI shares. TD Securities started coverage on High Tide in a research report on Tuesday, February 24th. They issued a “buy” rating on the stock. Canaccord Genuity Group lifted their price target on High Tide from $7.00 to $7.25 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of High Tide in a research report on Tuesday, April 21st.

High Tide Stock Down 1.7%

HITI opened at $2.29 on Thursday. The business has a 50 day moving average price of $2.39 and a 200 day moving average price of $2.48. High Tide has a twelve month low of $2.10 and a twelve month high of $4.06. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.72 and a current ratio of 1.43. The firm has a market cap of $201.29 million, a P/E ratio of -6.74 and a beta of 0.58.

High Tide (NASDAQ:HITI) last posted its earnings results on Tuesday, March 17th. The company reported $0.01 earnings per share for the quarter. High Tide had a positive return on equity of 0.58% and a negative net margin of 7.53%.The firm had revenue of $130.88 million during the quarter, compared to analyst estimates of $173.80 million. Research analysts forecast that High Tide will post 0.03 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HITI. Osaic Holdings Inc. increased its position in shares of High Tide by 82,976.9% during the second quarter. Osaic Holdings Inc. now owns 10,800 shares of the company’s stock valued at $25,000 after purchasing an additional 10,787 shares during the period. HRT Financial LP bought a new stake in shares of High Tide during the fourth quarter valued at approximately $26,000. StoneX Group Inc. bought a new stake in shares of High Tide during the fourth quarter valued at approximately $41,000. Spark Investment Management LLC bought a new stake in shares of High Tide during the fourth quarter valued at approximately $43,000. Finally, Bank of America Corp DE bought a new stake in shares of High Tide during the fourth quarter valued at approximately $72,000. Institutional investors and hedge funds own 4.52% of the company’s stock.

About High Tide

High Tide Inc (NASDAQ: HITI) is an omnichannel retailer and branded consumer packaged goods company serving the regulated cannabis market. The company operates a network of licensed cannabis retail stores across Canada, offering a curated assortment of cannabis flower, pre-rolls, vapes and lifestyle accessories. In parallel, High Tide maintains an e-commerce platform that delivers hemp-derived products, vaporizers, glassware and other ancillary goods to consumers in multiple jurisdictions.

Within Canada, High Tide’s retail division includes banners such as Canna Cabana, Meta Cannabis Supply Co and The Hunny Pot, each designed to provide differentiated in-store experiences.