Roth Capital Brokers Boost Earnings Estimates for High Tide Inc. (NASDAQ:HITI)

High Tide Inc. (NASDAQ:HITI) – Equities researchers at Roth Capital upped their Q3 2024 EPS estimates for High Tide in a research report issued on Monday, June 17th. Roth Capital analyst S. Fortune now anticipates that the company will post earnings per share of $0.00 for the quarter, up from their previous forecast of ($0.01). Roth Capital also issued estimates for High Tide’s FY2024 earnings at $0.00 EPS, Q1 2025 earnings at $0.00 EPS, Q2 2025 earnings at $0.01 EPS, Q3 2025 earnings at $0.01 EPS and Q4 2025 earnings at $0.01 EPS.

Several other equities analysts also recently commented on the company. Roth Mkm reaffirmed a “buy” rating and issued a $4.50 price objective on shares of High Tide in a research report on Monday, March 25th. TheStreet raised shares of High Tide from a “d” rating to a “c-” rating in a research note on Friday, March 15th.

High Tide Trading Up 3.3 %

HITI opened at $2.52 on Tuesday. High Tide has a one year low of $1.14 and a one year high of $2.85. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 1.17. The stock has a market cap of $202.73 million, a price-to-earnings ratio of -7.88 and a beta of 0.49. The stock’s 50 day moving average price is $2.33 and its 200-day moving average price is $1.98.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Revisor Wealth Management LLC purchased a new stake in shares of High Tide in the 1st quarter worth $27,000. Quadrature Capital Ltd purchased a new stake in High Tide in the first quarter worth about $32,000. Perritt Capital Management Inc. bought a new position in High Tide during the 1st quarter worth about $132,000. Virtu Financial LLC purchased a new position in High Tide during the 1st quarter valued at about $153,000. Finally, JW Asset Management LLC boosted its position in High Tide by 36.2% during the 4th quarter. JW Asset Management LLC now owns 102,144 shares of the company’s stock valued at $166,000 after acquiring an additional 27,144 shares in the last quarter. 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.