High Tide (NASDAQ:HITI) Now Covered by Analysts at D. Boral Capital

Equities researchers at D. Boral Capital began coverage on shares of High Tide (NASDAQ:HITI) in a research note issued on Wednesday. The firm set a “buy” rating and a $4.00 price target on the stock. D. Boral Capital’s price objective would indicate a potential upside of 81.82% from the company’s previous close.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of High Tide in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, High Tide presently has an average rating of “Moderate Buy” and a consensus target price of $5.62.

High Tide Price Performance

Shares of NASDAQ HITI opened at $2.20 on Wednesday. The stock has a market cap of $193.31 million, a PE ratio of -7.10 and a beta of 0.59. High Tide has a fifty-two week low of $2.09 and a fifty-two week high of $4.06. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.66 and a current ratio of 1.46. The stock has a fifty day moving average of $2.31 and a 200-day moving average of $2.40.

High Tide (NASDAQ:HITI) last issued its quarterly earnings data on Monday, June 15th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. High Tide had a positive return on equity of 3.59% and a negative net margin of 6.62%.The business had revenue of $132.02 million for the quarter, compared to analysts’ expectations of $125.93 million. Equities research analysts anticipate that High Tide will post 0.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. HRT Financial LP purchased a new stake in shares of High Tide in the 4th quarter valued at about $26,000. Osaic Holdings Inc. boosted its position in shares of High Tide by 82,976.9% during the 2nd quarter. Osaic Holdings Inc. now owns 10,800 shares of the company’s stock valued at $25,000 after acquiring an additional 10,787 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of High Tide by 35.8% during the fourth quarter. XTX Topco Ltd now owns 42,606 shares of the company’s stock worth $113,000 after purchasing an additional 11,222 shares in the last quarter. Friday Financial purchased a new position in shares of High Tide during the second quarter worth about $29,000. Finally, StoneX Group Inc. bought a new position in shares of High Tide in the fourth quarter worth approximately $41,000. 4.52% of the stock is currently owned by hedge funds and other institutional investors.

High Tide Company Profile

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.