High Tide (NASDAQ:HITI) Releases Quarterly Earnings Results

High Tide (NASDAQ:HITI) issued its quarterly earnings results on Monday. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01), Zacks reports. High Tide had a negative net margin of 0.81% and a negative return on equity of 2.93%.

High Tide Stock Down 2.6%

NASDAQ:HITI traded down $0.06 during trading hours on Monday, reaching $2.22. 528,349 shares of the stock were exchanged, compared to its average volume of 584,673. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.40 and a quick ratio of 0.92. High Tide has a twelve month low of $1.57 and a twelve month high of $3.62. The stock has a market cap of $179.90 million, a PE ratio of -74.00 and a beta of 0.52. The firm has a 50 day moving average of $2.28 and a 200 day moving average of $2.58.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in High Tide stock. Bank of America Corp DE acquired a new position in shares of High Tide Inc. (NASDAQ:HITI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 23,200 shares of the company’s stock, valued at approximately $72,000. Institutional investors and hedge funds 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.