High Tide Inc. (NASDAQ:HITI – Get Free Report) shares crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $2.61 and traded as high as $2.70. High Tide shares last traded at $2.67, with a volume of 293,197 shares trading hands.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on HITI shares. Weiss Ratings reissued a “sell (d-)” rating on shares of High Tide in a research report on Thursday, October 15th. Wall Street Zen raised High Tide from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Finally, D. Boral Capital assumed coverage on High Tide in a research report on Wednesday, July 22nd. They set a “buy” rating and a $4.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, High Tide currently has an average rating of “Moderate Buy” and a consensus price target of $5.62.
Check Out Our Latest Report on HITI
High Tide Stock Performance
The company has a market capitalization of $238.03 million, a PE ratio of -11.61 and a beta of 0.56. The company has a 50 day moving average price of $2.61 and a 200 day moving average price of $2.43.
High Tide (NASDAQ:HITI – Get Free Report) last released its quarterly earnings results on Monday, September 14th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. The company had revenue of $141.74 million for the quarter, compared to analyst estimates of $138.97 million. On average, equities analysts forecast that High Tide Inc. will post 0.09 earnings per share for the current fiscal year.
Institutional Investors Weigh In On High Tide
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Friday Financial bought a new stake in High Tide in the second quarter valued at about $29,000. AXQ Capital LP acquired a new stake in High Tide during the second quarter valued at approximately $86,000. TopTier Wealth Management LLC bought a new position in High Tide during the 3rd quarter worth approximately $169,000. TD Waterhouse Canada Inc. lifted its holdings in High Tide by 1,562.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 92,462 shares of the company’s stock worth $246,000 after buying an additional 86,900 shares during the last quarter. Finally, State of Wyoming bought a new position in High Tide during the 1st quarter worth approximately $387,000. Institutional investors own 4.52% of the company’s stock.
High Tide Company Profile
High Tide Inc is a Canadian cannabis company focused primarily on the retail sale of adult-use cannabis and cannabis-related products. The company operates its retail business under the Canna Cabana banner and offers cannabis flower, pre-rolls, vapes, edibles, beverages, concentrates and accessories, subject to applicable regulations.
High Tide also operates the Cabana Club customer loyalty program and Fastendr, a technology platform designed to support cannabis retail, online ordering and in-store purchasing.
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