High Tide Inc. (NASDAQ:HITI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

High Tide Inc. (NASDAQ:HITI) has been given a consensus recommendation of “Moderate Buy” by the five research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $6.1250.

HITI has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price target on High Tide from $7.00 to $7.25 and gave the stock a “buy” rating in a report on Thursday, March 19th. Weiss Ratings restated a “sell (d-)” rating on shares of High Tide in a research report on Tuesday, April 21st. Wall Street Zen downgraded High Tide from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, TD Securities began coverage on High Tide in a research report on Tuesday, February 24th. They set a “buy” rating on the stock.

High Tide Price Performance

NASDAQ:HITI opened at $2.51 on Friday. High Tide has a one year low of $2.10 and a one year 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 $220.63 million, a price-to-earnings ratio of -7.38 and a beta of 0.59. The firm’s fifty day moving average is $2.41 and its two-hundred day moving average is $2.59.

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

Institutional Trading of High Tide

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. raised its position in shares of High Tide by 82,976.9% during the 2nd quarter. Osaic Holdings Inc. now owns 10,800 shares of the company’s stock worth $25,000 after purchasing an additional 10,787 shares during the last quarter. HRT Financial LP acquired a new stake in High Tide in the 4th quarter worth about $26,000. StoneX Group Inc. acquired a new stake in High Tide in the 4th quarter worth about $41,000. Spark Investment Management LLC purchased a new stake in High Tide during the 4th quarter worth approximately $43,000. Finally, Bank of America Corp DE purchased a new stake in High Tide during the 4th quarter worth approximately $72,000. Hedge funds and other institutional investors own 4.52% of the company’s stock.

High Tide Company Profile

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.