High Tide (NASDAQ:HITI) Stock Price Down 0.8% – What’s Next?

High Tide Inc. (NASDAQ:HITI) fell 0.8% during trading on Tuesday . The stock traded as low as $2.35 and last traded at $2.51. 1,714,457 shares were traded during trading, an increase of 144% from the average session volume of 703,346 shares. The stock had previously closed at $2.53.

Analysts Set New Price Targets

Separately, Roth Capital upgraded High Tide to a “strong-buy” rating in a research report on Friday, November 8th.

High Tide Stock Down 0.8 %

The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $203.08 million, a PE ratio of -83.67 and a beta of 0.46. The business’s 50-day moving average price is $2.93 and its 200-day moving average price is $2.65.

High Tide (NASDAQ:HITI) last posted its quarterly earnings results on Wednesday, January 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). High Tide had a negative return on equity of 2.93% and a negative net margin of 0.81%. As a group, equities research analysts predict that High Tide Inc. will post -0.04 EPS for the current fiscal year.

Institutional Trading of High Tide

Several large investors have recently made changes to their positions in the stock. Jane Street Group LLC lifted its stake in shares of High Tide by 58.8% in the third quarter. Jane Street Group LLC now owns 35,252 shares of the company’s stock worth $72,000 after buying an additional 13,052 shares during the last quarter. Benin Management CORP lifted its position in High Tide by 100.0% during the 4th quarter. Benin Management CORP now owns 20,000 shares of the company’s stock worth $62,000 after acquiring an additional 10,000 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in High Tide during the fourth quarter valued at about $451,000. SBI Securities Co. Ltd. acquired a new stake in shares of High Tide in the fourth quarter valued at about $146,000. Finally, Northwest & Ethical Investments L.P. grew its position in shares of High Tide by 1,026.2% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 22,378 shares of the company’s stock valued at $69,000 after purchasing an additional 20,391 shares during the last quarter. Institutional investors own 4.52% of the company’s stock.

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.