High Tide (NASDAQ:HITI) Given Buy Rating at Roth Mkm

Roth Mkm restated their buy rating on shares of High Tide (NASDAQ:HITI) in a report released on Monday morning, Benzinga reports. They currently have a $4.50 target price on the stock.

Separately, TheStreet upgraded High Tide from a d rating to a c- rating in a research report on Friday, March 15th.

High Tide Price Performance

HITI stock opened at $2.06 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.69 and a current ratio of 1.13. The firm has a market cap of $162.58 million, a P/E ratio of -6.24 and a beta of 0.49. The firm’s fifty day moving average is $1.79 and its 200 day moving average is $1.67. High Tide has a 52 week low of $1.14 and a 52 week high of $2.30.

High Tide (NASDAQ:HITI) last released its quarterly earnings data on Monday, March 18th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. High Tide had a negative return on equity of 2.03% and a negative net margin of 7.46%. The firm had revenue of $94.76 million for the quarter, compared to the consensus estimate of $94.43 million. During the same quarter in the previous year, the business earned ($0.05) earnings per share. Research analysts predict that High Tide will post -0.01 earnings per share for the current year.

Hedge Funds Weigh In On High Tide

A number of hedge funds have recently modified their holdings of the company. Citigroup Inc. purchased a new stake in shares of High Tide during the first quarter worth about $53,000. Royal Bank of Canada lifted its holdings in High Tide by 162.9% in the 1st quarter. Royal Bank of Canada now owns 18,961 shares of the company’s stock worth $86,000 after buying an additional 11,748 shares during the period. Renaissance Technologies LLC purchased a new stake in High Tide in the 2nd quarter worth approximately $29,000. JW Asset Management LLC grew its position in shares of High Tide by 36.2% in the 4th 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 during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of High Tide by 279.7% during the first quarter. Jane Street Group LLC now owns 53,384 shares of the company’s stock valued at $72,000 after buying an additional 39,324 shares during the period. Hedge funds and other institutional investors 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.