High Tide (NASDAQ:HITI) Releases Earnings Results

High Tide (NASDAQ:HITI) released its quarterly earnings data on Monday. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03, Zacks reports. High Tide had a negative net margin of 7.07% and a negative return on equity of 1.06%. The company had revenue of $96.04 million during the quarter, compared to analyst estimates of $93.70 million. During the same quarter in the previous year, the business posted ($0.03) EPS.

High Tide Stock Performance

HITI traded up $0.04 during trading on Wednesday, hitting $2.18. 198,674 shares of the company traded hands, compared to its average volume of 536,477. The firm has a market cap of $175.37 million, a P/E ratio of -6.69 and a beta of 0.47. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 0.21. High Tide has a one year low of $1.14 and a one year high of $2.85. The stock’s fifty day moving average is $1.95 and its 200 day moving average is $2.11.

Wall Street Analyst Weigh In

HITI has been the subject of several recent research reports. Roth Mkm reiterated a “buy” rating and set a $4.50 price target on shares of High Tide in a report on Wednesday. Ventum Cap Mkts upgraded High Tide to a “strong-buy” rating in a research note on Tuesday, July 16th.

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.