High Tide (NASDAQ:HITI – Get Free Report)‘s stock had its “buy” rating restated by equities researchers at Roth Mkm in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $4.50 target price on the stock. Roth Mkm’s price objective would suggest a potential upside of 144.57% from the company’s current price.
Separately, TheStreet raised shares of High Tide from a “d” rating to a “c-” rating in a report on Friday, March 15th.
Read Our Latest Research Report on HITI
High Tide Price Performance
High Tide (NASDAQ:HITI – Get Free Report) last released its quarterly earnings data 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 business had revenue of $94.76 million for the quarter, compared to analysts’ expectations of $94.43 million. High Tide had a negative return on equity of 2.03% and a negative net margin of 7.46%. During the same quarter in the previous year, the business posted ($0.05) EPS. On average, equities analysts predict that High Tide will post -0.01 earnings per share for the current fiscal year.
Institutional Trading of High Tide
Hedge funds and other institutional investors have recently modified their holdings of the stock. Citigroup Inc. acquired a new position in shares of High Tide in the 1st quarter valued at approximately $53,000. Royal Bank of Canada raised its position in shares of High Tide by 162.9% in the 1st quarter. Royal Bank of Canada now owns 18,961 shares of the company’s stock valued at $86,000 after buying an additional 11,748 shares in the last quarter. Millennium Management LLC acquired a new position in shares of High Tide in the 2nd quarter valued at approximately $80,000. Jane Street Group LLC increased its position in High Tide by 149.6% during the 2nd quarter. Jane Street Group LLC now owns 88,220 shares of the company’s stock worth $179,000 after purchasing an additional 52,882 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in High Tide during the 2nd quarter worth approximately $29,000. Institutional investors own 4.52% of the company’s stock.
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.
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