AXS Investments LLC Sells 53,649 Shares of High Tide Inc. (NASDAQ:HITI)

AXS Investments LLC lowered its position in High Tide Inc. (NASDAQ:HITI) by 10.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 470,860 shares of the company’s stock after selling 53,649 shares during the quarter. AXS Investments LLC owned 0.60% of High Tide worth $768,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Hillsdale Investment Management Inc. bought a new stake in shares of High Tide in the 4th quarter worth approximately $1,134,000. JW Asset Management LLC acquired a new stake in High Tide during the 3rd quarter valued at $139,000. Finally, AdvisorShares Investments LLC increased its holdings in High Tide by 13.4% during the 3rd quarter. AdvisorShares Investments LLC now owns 1,558,342 shares of the company’s stock valued at $2,883,000 after purchasing an additional 184,280 shares in the last quarter. Institutional investors own 4.52% of the company’s stock.

High Tide Stock Up 1.3 %

Shares of NASDAQ:HITI traded up $0.03 during midday trading on Friday, hitting $2.33. The company had a trading volume of 286,220 shares, compared to its average volume of 789,501. High Tide Inc. has a 12 month low of $1.14 and a 12 month high of $2.85. 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 firm has a fifty day simple moving average of $2.19 and a 200 day simple moving average of $1.85.

High Tide (NASDAQ:HITI) last posted its quarterly earnings results on Monday, March 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. High Tide had a negative return on equity of 2.03% and a negative net margin of 7.46%. The business had revenue of $94.76 million for the quarter, compared to analyst estimates of $94.43 million. During the same period last year, the company earned ($0.05) EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HITI. TheStreet raised High Tide from a “d” rating to a “c-” rating in a report on Friday, March 15th. Roth Mkm reaffirmed a “buy” rating and set a $4.50 price target on shares of High Tide in a report on Monday, March 25th.

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.