Chicago Partners Investment Group LLC Decreases Stake in High Tide Inc. (NASDAQ:HITI)

Chicago Partners Investment Group LLC lowered its position in shares of High Tide Inc. (NASDAQ:HITI) by 5.8% in the first quarter, Holdings Channel reports. The firm owned 136,072 shares of the company’s stock after selling 8,370 shares during the period. Chicago Partners Investment Group LLC’s holdings in High Tide were worth $257,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of HITI. Bank of America Corp DE purchased a new stake in shares of High Tide during the 4th quarter worth about $72,000. Lazard Asset Management LLC grew its holdings in shares of High Tide by 8,334.5% during the 4th quarter. Lazard Asset Management LLC now owns 51,535 shares of the company’s stock worth $159,000 after purchasing an additional 50,924 shares during the period. Jane Street Group LLC lifted its position in High Tide by 50.6% during the 4th quarter. Jane Street Group LLC now owns 53,089 shares of the company’s stock worth $163,000 after acquiring an additional 17,837 shares in the last quarter. State of Wyoming purchased a new position in High Tide in the 4th quarter worth approximately $481,000. Finally, Two Sigma Investments LP boosted its holdings in High Tide by 146.0% in the 4th quarter. Two Sigma Investments LP now owns 311,304 shares of the company’s stock worth $962,000 after acquiring an additional 184,780 shares during the period. Hedge funds and other institutional investors own 4.52% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Roth Capital restated a “buy” rating and issued a $5.00 price target (up previously from $4.50) on shares of High Tide in a report on Wednesday, June 18th.

High Tide Stock Up 10.1%

NASDAQ HITI opened at $2.39 on Tuesday. The stock has a market cap of $194.07 million, a PE ratio of -29.88 and a beta of 0.52. High Tide Inc. has a fifty-two week low of $1.64 and a fifty-two week high of $3.62. The business has a 50 day moving average price of $2.29 and a two-hundred day moving average price of $2.33. The company has a quick ratio of 0.97, a current ratio of 1.57 and a debt-to-equity ratio of 0.30.

High Tide (NASDAQ:HITI) last released its quarterly earnings results on Monday, June 16th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $99.86 million during the quarter, compared to analysts’ expectations of $138.50 million. High Tide had a negative return on equity of 6.45% and a negative net margin of 1.71%. As a group, sell-side analysts predict that High Tide Inc. will post -0.04 EPS for the current fiscal year.

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.