JW Asset Management LLC Grows Stake in High Tide Inc. (NASDAQ:HITI)

JW Asset Management LLC lifted its stake in shares of High Tide Inc. (NASDAQ:HITI) by 36.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,144 shares of the company’s stock after purchasing an additional 27,144 shares during the period. High Tide comprises 0.1% of JW Asset Management LLC’s investment portfolio, making the stock its 17th biggest position. JW Asset Management LLC owned about 0.13% of High Tide worth $166,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Hillsdale Investment Management Inc. purchased a new stake in shares of High Tide during the fourth quarter worth about $1,134,000. 4.52% of the stock is currently owned by institutional investors.

High Tide Trading Up 1.3 %

NASDAQ:HITI traded up $0.03 on Friday, hitting $2.33. The stock had a trading volume of 286,075 shares, compared to its average volume of 575,734. 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 stock has a market cap of $184.84 million, a price-to-earnings ratio of -7.06 and a beta of 0.44. The company has a fifty day moving average price of $2.18 and a two-hundred day moving average price of $1.84. High Tide Inc. has a 1-year low of $1.14 and a 1-year high of $2.85.

High Tide (NASDAQ:HITI) last posted its earnings results on Monday, March 18th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.02. The company had revenue of $94.76 million for the quarter, compared to analyst estimates 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 in the previous year, the business posted ($0.05) EPS.

Wall Street Analysts Forecast Growth

HITI has been the topic of a number of recent research reports. TheStreet upgraded shares of High Tide from a “d” rating to a “c-” rating in a research report on Friday, March 15th. Roth Mkm restated a “buy” rating and set a $4.50 price target on shares of High Tide in a research report on Monday, March 25th.

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.