FY2024 Earnings Forecast for High Tide Inc. Issued By Roth Capital (NASDAQ:HITI)

High Tide Inc. (NASDAQ:HITI) – Research analysts at Roth Capital issued their FY2024 earnings estimates for shares of High Tide in a research report issued on Tuesday, September 17th. Roth Capital analyst S. Fortune anticipates that the company will post earnings of $0.01 per share for the year. The consensus estimate for High Tide’s current full-year earnings is ($0.03) per share. Roth Capital also issued estimates for High Tide’s FY2025 earnings at $0.07 EPS.

High Tide (NASDAQ:HITI) last announced its quarterly earnings data on Monday, September 16th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. High Tide had a negative return on equity of 1.06% and a negative net margin of 7.07%. The firm had revenue of $96.04 million during the quarter, compared to the consensus estimate of $93.70 million. During the same period in the prior year, the business earned ($0.03) EPS.

Other research analysts also recently issued reports about the stock. Ventum Cap Mkts raised shares of High Tide to a “strong-buy” rating in a research report on Tuesday, July 16th. Roth Mkm restated a “buy” rating and set a $4.50 price target on shares of High Tide in a report on Wednesday.

High Tide Price Performance

Shares of HITI opened at $2.11 on Thursday. The business’s 50-day moving average is $1.95 and its 200-day moving average is $2.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.17 and a quick ratio of 0.72. The company has a market capitalization of $169.74 million, a price-to-earnings ratio of -6.59 and a beta of 0.47. High Tide has a fifty-two week low of $1.14 and a fifty-two week high of $2.85.

Institutional Investors Weigh In On High Tide

Institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new position in High Tide in the first quarter worth approximately $32,000. Perritt Capital Management Inc. acquired a new stake in High Tide in the first quarter valued at approximately $132,000. Virtu Financial LLC bought a new stake in High Tide in the first quarter worth approximately $153,000. JW Asset Management LLC increased its stake in shares of High Tide by 36.2% during the 4th quarter. JW Asset Management LLC now owns 102,144 shares of the company’s stock worth $166,000 after purchasing an additional 27,144 shares during the last quarter. Finally, Perritt Capital Management Inc raised its holdings in shares of High Tide by 92.3% during the 2nd quarter. Perritt Capital Management Inc now owns 125,000 shares of the company’s stock valued at $276,000 after purchasing an additional 60,000 shares in the last quarter. 4.52% of the stock is currently owned by institutional investors and hedge funds.

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.