Zacks Research Decreases Earnings Estimates for High Tide

High Tide Inc. (NASDAQ:HITI) – Equities research analysts at Zacks Research cut their FY2027 EPS estimates for High Tide in a report released on Wednesday, September 16th. Zacks Research analyst T. Kerr now anticipates that the company will earn $0.08 per share for the year, down from their prior estimate of $0.11. The consensus estimate for High Tide’s current full-year earnings is $0.03 per share.

High Tide (NASDAQ:HITI) last issued its quarterly earnings results on Monday, September 14th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. High Tide had a positive return on equity of 5.13% and a negative net margin of 4.73%.The firm had revenue of $141.74 million during the quarter, compared to the consensus estimate of $138.97 million.

Several other equities analysts have also issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of High Tide in a research note on Friday, July 17th. D. Boral Capital started coverage on shares of High Tide in a research report on Wednesday, July 22nd. They set a “buy” rating and a $4.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $5.62.

High Tide Stock Down 1.5%

Shares of NASDAQ:HITI opened at $2.65 on Friday. The company has a market capitalization of $235.83 million, a price-to-earnings ratio of -11.52 and a beta of 0.62. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 0.66. The business’s 50-day moving average is $2.36 and its 200-day moving average is $2.37. High Tide has a 1 year low of $2.02 and a 1 year high of $4.06.

Institutional Trading of High Tide

Several hedge funds have recently bought and sold shares of the business. AXQ Capital LP acquired a new position in High Tide during the second quarter worth $86,000. Friday Financial acquired a new position in shares of High Tide during the second quarter valued at about $29,000. Renaissance Technologies LLC grew its holdings in shares of High Tide by 13.0% during the first quarter. Renaissance Technologies LLC now owns 1,067,632 shares of the company’s stock valued at $2,445,000 after buying an additional 122,569 shares during the last quarter. State of Wyoming bought a new stake in shares of High Tide during the first quarter worth about $387,000. Finally, Spark Investment Management LLC bought a new stake in shares of High Tide during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 4.52% of the company’s stock.

High Tide Company Profile

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.