Revisor Wealth Management LLC Buys Shares of 13,455 High Tide Inc. $HITI

Revisor Wealth Management LLC bought a new stake in High Tide Inc. (NASDAQ:HITI) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 13,455 shares of the company’s stock, valued at approximately $32,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State of Wyoming raised its stake in shares of High Tide by 55.7% during the first quarter. State of Wyoming now owns 242,241 shares of the company’s stock valued at $458,000 after purchasing an additional 86,682 shares in the last quarter. Two Sigma Investments LP increased its stake 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 purchasing an additional 184,780 shares in the last quarter. Bank of America Corp DE purchased a new position in High Tide in the 4th quarter worth about $72,000. Finally, Jane Street Group LLC grew its stake in High Tide by 50.6% during the 4th quarter. Jane Street Group LLC now owns 53,089 shares of the company’s stock valued at $163,000 after acquiring an additional 17,837 shares in the last quarter. 4.52% of the stock is currently owned by institutional investors.

High Tide Price Performance

High Tide stock opened at $3.60 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.29 and a current ratio of 1.85. The firm has a market cap of $313.60 million, a P/E ratio of -45.00 and a beta of 0.58. The business’s fifty day moving average is $2.94 and its two-hundred day moving average is $2.48. High Tide Inc. has a 52 week low of $1.64 and a 52 week high of $4.06.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Roth Capital reaffirmed a “buy” rating and set a $5.00 target price (up previously from $4.50) on shares of High Tide in a research note on Wednesday, June 18th. Wall Street Zen upgraded High Tide from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Haywood Securities raised High Tide to a “strong-buy” rating in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Strong Buy” and a consensus target price of $5.00.

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.