High Tide Inc. (NASDAQ:HITI) Short Interest Update

High Tide Inc. (NASDAQ:HITI) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 5,250,000 shares, a growth of 8.9% from the May 31st total of 4,820,000 shares. Based on an average daily volume of 824,600 shares, the days-to-cover ratio is currently 6.4 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Revisor Wealth Management LLC purchased a new stake in High Tide in the 1st quarter worth approximately $27,000. Quadrature Capital Ltd purchased a new stake in High Tide in the 1st quarter worth approximately $32,000. Perritt Capital Management Inc. purchased a new stake in High Tide in the 1st quarter worth approximately $132,000. Virtu Financial LLC purchased a new stake in High Tide in the 1st quarter worth approximately $153,000. Finally, JW Asset Management LLC increased its holdings in High Tide by 36.2% in the 4th quarter. JW Asset Management LLC now owns 102,144 shares of the company’s stock worth $166,000 after acquiring an additional 27,144 shares in the last quarter. 4.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Roth Mkm restated a “buy” rating and issued a $4.50 target price on shares of High Tide in a report on Monday, March 25th. TheStreet upgraded shares of High Tide from a “d” rating to a “c-” rating in a research note on Friday, March 15th.

High Tide Stock Performance

NASDAQ:HITI opened at $2.13 on Thursday. 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 50-day simple moving average of $2.34 and a two-hundred day simple moving average of $2.03. The firm has a market capitalization of $171.35 million, a PE ratio of -6.66 and a beta of 0.46. High Tide has a 52-week low of $1.14 and a 52-week high of $2.85.

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.