High Tide (NASDAQ:HITI – Get Free Report) released its earnings results on Monday. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01, Zacks reports. The company had revenue of $141.74 million for the quarter, compared to analyst estimates of $138.97 million. High Tide had a negative net margin of 6.62% and a positive return on equity of 3.59%.
High Tide Price Performance
HITI opened at $2.63 on Tuesday. The firm has a market capitalization of $233.80 million, a P/E ratio of -8.48 and a beta of 0.62. The stock has a fifty day moving average of $2.34 and a 200-day moving average of $2.37. The company has a quick ratio of 0.66, a current ratio of 1.46 and a debt-to-equity ratio of 0.89. High Tide has a 12-month low of $2.02 and a 12-month high of $4.06.
Analyst Ratings Changes
A number of equities analysts have weighed in on HITI shares. D. Boral Capital started coverage on shares of High Tide in a research note on Wednesday, July 22nd. They set a “buy” rating and a $4.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of High Tide in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, High Tide currently has an average rating of “Moderate Buy” and an average price target of $5.62.
About High Tide
High Tide Inc is a Canadian cannabis company focused on the retail and sale of cannabis products and consumption accessories. Its retail operations are conducted primarily under the Canna Cabana brand, while its digital platforms support online shopping, customer engagement and loyalty programs.
The company offers a range of products, including dried cannabis, pre-rolls, cannabis oils, edibles, beverages and other cannabis formats, subject to applicable regulations. Through related brands and platforms, High Tide also sells smoking accessories and other products designed for cannabis consumers.
Founded in 2009, High Tide is headquartered in Calgary, Alberta, and serves Canadian consumers through its retail network and e-commerce operations.
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