High Tide Inc. (NASDAQ:HITI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

High Tide Inc. (NASDAQ:HITI) has earned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $5.6250.

HITI has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of High Tide in a research report on Friday, July 17th. D. Boral Capital initiated coverage on shares of High Tide in a report on Wednesday, July 22nd. They issued a “buy” rating and a $4.00 price objective on the stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. grew its stake in shares of High Tide by 82,976.9% in the second quarter. Osaic Holdings Inc. now owns 10,800 shares of the company’s stock worth $25,000 after acquiring an additional 10,787 shares in the last quarter. HRT Financial LP purchased a new position in shares of High Tide in the 4th quarter valued at about $26,000. Friday Financial acquired a new stake in High Tide during the second quarter worth approximately $29,000. StoneX Group Inc. acquired a new stake in High Tide during the 4th quarter worth $41,000. Finally, Spark Investment Management LLC purchased a new stake in shares of High Tide in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 4.52% of the company’s stock.

High Tide Stock Down 4.5%

High Tide stock opened at $2.57 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.46 and a quick ratio of 0.66. The business has a 50 day simple moving average of $2.32 and a 200-day simple moving average of $2.36. The stock has a market capitalization of $226.11 million, a PE ratio of -8.29 and a beta of 0.62. High Tide has a 12 month low of $2.02 and a 12 month high of $4.06.

High Tide (NASDAQ:HITI) last announced its earnings results on Monday, June 15th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. The business had revenue of $132.02 million for the quarter, compared to analyst estimates of $125.93 million. High Tide had a negative net margin of 6.62% and a positive return on equity of 3.59%. On average, analysts anticipate that High Tide will post 0.03 EPS for the current fiscal year.

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.