High Tide (NASDAQ:HITI) Stock Rating Upgraded by Roth Capital

High Tide (NASDAQ:HITI) was upgraded by Roth Capital to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Roth Mkm reiterated a “buy” rating and issued 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 Trading Down 3.6 %

High Tide stock opened at $2.65 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. High Tide has a one year low of $1.14 and a one year high of $3.12. The company’s fifty day moving average price is $2.40 and its two-hundred day moving average price is $2.24. The company has a market capitalization of $213.18 million, a price-to-earnings ratio of -9.46 and a beta of 0.39.

High Tide (NASDAQ:HITI) last released its quarterly earnings results on Monday, September 16th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. High Tide had a negative net margin of 6.14% and a positive return on equity of 2.06%. The company had revenue of $96.04 million during the quarter, compared to analysts’ expectations of $93.70 million. During the same period in the prior year, the company earned ($0.03) earnings per share. On average, analysts forecast that High Tide will post -0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HITI. Quadrature Capital Ltd acquired a new stake in shares of High Tide in the first quarter valued at approximately $32,000. Perritt Capital Management Inc. bought a new position in High Tide in the first quarter valued at approximately $132,000. Virtu Financial LLC bought a new position in High Tide in the first quarter valued at approximately $153,000. Perritt Capital Management Inc boosted its stake in High Tide by 92.3% in the second quarter. Perritt Capital Management Inc now owns 125,000 shares of the company’s stock valued at $276,000 after acquiring an additional 60,000 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft boosted its stake in High Tide by 25.9% in the second quarter. Baader Bank Aktiengesellschaft now owns 251,741 shares of the company’s stock valued at $555,000 after acquiring an additional 51,741 shares during the last quarter. Institutional investors and hedge funds own 4.52% of the company’s stock.

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.