High Tide (NASDAQ:HITI) Trading Down 0.8% – What’s Next?

High Tide Inc. (NASDAQ:HITI) traded down 0.8% during trading on Tuesday . The company traded as low as $2.35 and last traded at $2.51. 1,714,457 shares traded hands during trading, an increase of 144% from the average session volume of 703,346 shares. The stock had previously closed at $2.53.

Analyst Upgrades and Downgrades

Separately, Roth Capital upgraded High Tide to a “strong-buy” rating in a research report on Friday, November 8th.

High Tide Trading Down 0.8 %

The company’s 50-day moving average is $2.93 and its 200-day moving average is $2.65. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.40. The firm has a market cap of $203.08 million, a price-to-earnings ratio of -83.67 and a beta of 0.46.

High Tide (NASDAQ:HITI) last announced its earnings results on Wednesday, January 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). High Tide had a negative return on equity of 2.93% and a negative net margin of 0.81%. On average, research analysts predict that High Tide Inc. will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Benin Management CORP raised its position in shares of High Tide by 100.0% during the fourth quarter. Benin Management CORP now owns 20,000 shares of the company’s stock worth $62,000 after acquiring an additional 10,000 shares during the last quarter. Northwest & Ethical Investments L.P. increased its position in High Tide by 1,026.2% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 22,378 shares of the company’s stock worth $69,000 after purchasing an additional 20,391 shares during the period. Bank of America Corp DE acquired a new stake in High Tide in the fourth quarter worth about $72,000. Jane Street Group LLC raised its holdings in High Tide by 58.8% during the 3rd quarter. Jane Street Group LLC now owns 35,252 shares of the company’s stock worth $72,000 after purchasing an additional 13,052 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in High Tide during the 4th quarter valued at about $146,000. 4.52% of the stock is currently owned by institutional investors.

High Tide Company Profile

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.