High Tide (NASDAQ:HITI) Announces Earnings Results, Beats Expectations By $0.01 EPS

High Tide (NASDAQ:HITI) issued its quarterly earnings data on Monday. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01, Zacks reports. High Tide had a positive return on equity of 3.59% and a negative net margin of 6.62%.

High Tide Stock Up 4.0%

NASDAQ:HITI traded up $0.10 on Monday, hitting $2.63. The stock had a trading volume of 3,474,665 shares, compared to its average volume of 515,964. The business’s fifty day moving average is $2.33 and its 200 day moving average is $2.36. The company has a market cap of $233.81 million, a PE ratio of -8.48 and a beta of 0.62. The company has a quick ratio of 0.66, a current ratio of 1.46 and a debt-to-equity ratio of 0.89. High Tide has a 52 week low of $2.02 and a 52 week high of $4.06.

Analyst Ratings Changes

Several brokerages recently commented on HITI. D. Boral Capital initiated 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. Weiss Ratings restated a “sell (d-)” rating on shares of High Tide in a report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, High Tide has an average rating of “Moderate Buy” and an average target price of $5.62.

About High Tide

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.