High Tide (NASDAQ:HITI) Releases Earnings Results, Beats Expectations By $0.03 EPS

High Tide (NASDAQ:HITI) announced its quarterly earnings results on Monday. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.03, Zacks reports. High Tide had a negative return on equity of 1.06% and a negative net margin of 7.07%. The business had revenue of $96.04 million for the quarter, compared to analyst estimates of $93.70 million. During the same quarter in the previous year, the company earned ($0.03) EPS.

High Tide Stock Down 2.3 %

Shares of NASDAQ HITI opened at $2.14 on Wednesday. The firm’s 50-day moving average is $1.95 and its two-hundred day moving average is $2.11. The company has a market capitalization of $172.15 million, a PE ratio of -6.69 and a beta of 0.47. High Tide has a 12-month low of $1.14 and a 12-month high of $2.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.17 and a quick ratio of 0.72.

Analyst Upgrades and Downgrades

Separately, Ventum Cap Mkts upgraded High Tide to a “strong-buy” rating in a research report on Tuesday, July 16th.

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.