High Tide FY2024 EPS Estimate Boosted by Atb Cap Markets

High Tide Inc. (NASDAQ:HITI) – Stock analysts at Atb Cap Markets raised their FY2024 EPS estimates for High Tide in a research note issued on Tuesday, October 22nd. Atb Cap Markets analyst F. Gomes now forecasts that the company will earn ($0.03) per share for the year, up from their prior forecast of ($0.04). The consensus estimate for High Tide’s current full-year earnings is ($0.01) per share. Atb Cap Markets also issued estimates for High Tide’s FY2025 earnings at $0.00 EPS, FY2026 earnings at $0.15 EPS and FY2027 earnings at $0.30 EPS.

A number of other research firms have also weighed in on HITI. Roth Mkm restated a “buy” rating and set a $4.50 target price on shares of High Tide in a research note on Wednesday, September 18th. Ventum Cap Mkts raised shares of High Tide to a “strong-buy” rating in a research report on Tuesday, July 16th.

High Tide Price Performance

Shares of NASDAQ HITI opened at $2.95 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.78. The company has a market cap of $237.32 million, a price-to-earnings ratio of -9.22 and a beta of 0.48. The stock’s 50-day moving average is $2.19 and its two-hundred day moving average is $2.19. High Tide has a 1-year low of $1.14 and a 1-year high of $3.12.

High Tide (NASDAQ:HITI) last released its earnings results on Monday, September 16th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $96.04 million for the quarter, compared to analyst estimates of $93.70 million. High Tide had a negative net margin of 6.14% and a positive return on equity of 2.06%. During the same period in the prior year, the business earned ($0.03) EPS.

Institutional Investors Weigh In On High Tide

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd purchased a new position in High Tide in the first quarter valued at approximately $32,000. Perritt Capital Management Inc. acquired a new stake in High Tide during the 1st quarter worth $132,000. Virtu Financial LLC acquired a new stake in shares of High Tide during the first quarter worth about $153,000. Baader Bank Aktiengesellschaft increased its position in shares of High Tide by 25.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 251,741 shares of the company’s stock worth $555,000 after purchasing an additional 51,741 shares in the last quarter. Finally, Perritt Capital Management Inc lifted its holdings in shares of High Tide by 92.3% in the 2nd quarter. Perritt Capital Management Inc now owns 125,000 shares of the company’s stock valued at $276,000 after purchasing an additional 60,000 shares during the last quarter. Institutional investors and hedge funds own 4.52% of the company’s stock.

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.