High Tide (NASDAQ:HITI) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of High Tide (NASDAQ:HITI) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Several other equities analysts have also recently commented on the company. Haywood Securities raised High Tide to a “strong-buy” rating in a report on Friday, September 12th. Roth Capital restated a “buy” rating and set a $5.00 price objective (up from $4.50) on shares of High Tide in a research report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and a consensus price target of $5.00.

High Tide Price Performance

Shares of High Tide stock opened at $3.65 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.85 and a quick ratio of 1.29. The company has a market cap of $317.95 million, a PE ratio of -45.63 and a beta of 0.58. The firm has a fifty day moving average price of $2.91 and a two-hundred day moving average price of $2.47. High Tide has a fifty-two week low of $1.64 and a fifty-two week high of $4.06.

High Tide (NASDAQ:HITI) last announced its quarterly earnings data on Monday, September 15th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. High Tide had a negative net margin of 1.66% and a negative return on equity of 6.50%. The business had revenue of $108.04 million during the quarter, compared to analyst estimates of $146.00 million. Analysts expect that High Tide will post -0.04 EPS for the current year.

Hedge Funds Weigh In On High Tide

A number of hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP lifted its position in shares of High Tide by 146.0% during the 4th quarter. Two Sigma Investments LP now owns 311,304 shares of the company’s stock worth $962,000 after buying an additional 184,780 shares during the period. Murchinson Ltd. acquired a new position in High Tide during the second quarter worth $398,000. State of Wyoming raised its stake in High Tide by 55.7% during the first quarter. State of Wyoming now owns 242,241 shares of the company’s stock worth $458,000 after acquiring an additional 86,682 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of High Tide by 8,334.5% during the fourth quarter. Lazard Asset Management LLC now owns 51,535 shares of the company’s stock valued at $159,000 after acquiring an additional 50,924 shares during the period. Finally, Boothbay Fund Management LLC acquired a new stake in shares of High Tide in the 2nd quarter valued at $110,000. 4.52% of the stock is owned by institutional investors and hedge funds.

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.