High Tide Inc. $HITI Stock Holdings Lessened by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. reduced its holdings in High Tide Inc. (NASDAQ:HITI) by 46.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,183,036 shares of the company’s stock after selling 1,016,529 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in High Tide were worth $3,169,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Tidal Investments LLC bought a new stake in High Tide in the 3rd quarter valued at about $6,030,000. Qube Research & Technologies Ltd bought a new stake in High Tide in the 3rd quarter valued at about $120,000. Millennium Management LLC lifted its position in High Tide by 628.3% in the 3rd quarter. Millennium Management LLC now owns 436,608 shares of the company’s stock valued at $1,585,000 after purchasing an additional 376,659 shares during the last quarter. Centiva Capital LP bought a new stake in High Tide in the 3rd quarter valued at about $116,000. Finally, Bank of America Corp DE lifted its position in High Tide by 15,484.2% in the 3rd quarter. Bank of America Corp DE now owns 420,774 shares of the company’s stock valued at $1,527,000 after purchasing an additional 418,074 shares during the last quarter. 4.52% of the stock is currently owned by institutional investors.

High Tide Stock Performance

Shares of HITI opened at $2.45 on Monday. The firm’s 50 day moving average is $2.38 and its 200-day moving average is $2.51. The stock has a market capitalization of $215.36 million, a P/E ratio of -7.21 and a beta of 0.58. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.43 and a quick ratio of 0.72. High Tide Inc. has a 12-month low of $2.10 and a 12-month high of $4.06.

High Tide (NASDAQ:HITI) last released its earnings results on Tuesday, March 17th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $130.88 million for the quarter, compared to the consensus estimate of $173.80 million. High Tide had a negative net margin of 7.53% and a positive return on equity of 0.58%. Equities research analysts anticipate that High Tide Inc. will post 0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on HITI. Canaccord Genuity Group raised their target price on shares of High Tide from $7.00 to $7.25 and gave the company a “buy” rating in a research note on Thursday, March 19th. TD Securities began coverage on shares of High Tide in a research note on Tuesday, February 24th. They set a “buy” rating on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of High Tide in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $6.13.

High Tide Company Profile

High Tide Inc (NASDAQ: HITI) is an omnichannel retailer and branded consumer packaged goods company serving the regulated cannabis market. The company operates a network of licensed cannabis retail stores across Canada, offering a curated assortment of cannabis flower, pre-rolls, vapes and lifestyle accessories. In parallel, High Tide maintains an e-commerce platform that delivers hemp-derived products, vaporizers, glassware and other ancillary goods to consumers in multiple jurisdictions.

Within Canada, High Tide’s retail division includes banners such as Canna Cabana, Meta Cannabis Supply Co and The Hunny Pot, each designed to provide differentiated in-store experiences.