Roth Mkm Reaffirms “Buy” Rating for High Tide (NASDAQ:HITI)

Roth Mkm reiterated their buy rating on shares of High Tide (NASDAQ:HITI) in a report published on Wednesday, Benzinga reports. Roth Mkm currently has a $4.50 price target on the stock.

Separately, Ventum Cap Mkts upgraded shares of High Tide to a strong-buy rating in a report on Tuesday, July 16th.

High Tide Price Performance

Shares of NASDAQ:HITI opened at $2.11 on Wednesday. The firm’s 50 day moving average is $1.96 and its two-hundred day moving average is $2.11. High Tide has a 52 week low of $1.14 and a 52 week high of $2.85. The firm has a market capitalization of $169.74 million, a P/E ratio of -6.59 and a beta of 0.47. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 0.21.

High Tide (NASDAQ:HITI) last announced its quarterly earnings results on Monday, September 16th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. High Tide had a negative net margin of 7.07% and a negative return on equity of 1.06%. The company had revenue of $96.04 million for the quarter, compared to analyst estimates of $93.70 million. During the same quarter last year, the business earned ($0.03) earnings per share. Analysts anticipate that High Tide will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in shares of High Tide in the first quarter valued at approximately $153,000. Quadrature Capital Ltd bought a new stake in High Tide during the first quarter worth approximately $32,000. JW Asset Management LLC boosted its holdings in High Tide by 36.2% during the fourth quarter. JW Asset Management LLC now owns 102,144 shares of the company’s stock worth $166,000 after buying an additional 27,144 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its holdings in 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 buying an additional 51,741 shares in the last quarter. Finally, Perritt Capital Management Inc boosted its holdings in High Tide by 92.3% during the second quarter. Perritt Capital Management Inc now owns 125,000 shares of the company’s stock worth $276,000 after buying an additional 60,000 shares in the last quarter. 4.52% of the stock is currently owned by institutional investors.

About High Tide

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.