High Tide Inc. (NASDAQ:HITI) Short Interest Up 7.1% in December

High Tide Inc. (NASDAQ:HITI) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 4,050,000 shares, a growth of 7.1% from the November 30th total of 3,780,000 shares. Based on an average trading volume of 784,900 shares, the short-interest ratio is currently 5.2 days. Currently, 5.5% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in High Tide stock. Jane Street Group LLC grew its position in shares of High Tide Inc. (NASDAQ:HITI) by 58.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,252 shares of the company’s stock after purchasing an additional 13,052 shares during the quarter. Jane Street Group LLC’s holdings in High Tide were worth $72,000 as of its most recent SEC filing. 4.52% of the stock is owned by institutional investors.

High Tide Price Performance

Shares of NASDAQ:HITI opened at $3.09 on Thursday. The company’s fifty day moving average price is $2.98 and its 200-day moving average price is $2.40. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.78. The firm has a market capitalization of $248.59 million, a price-to-earnings ratio of -11.04 and a beta of 0.47. High Tide has a one year low of $1.57 and a one year high of $3.62.

Analyst Ratings Changes

HITI has been the subject of a number of recent analyst reports. Roth Mkm restated a “buy” rating and set a $4.50 price target on shares of High Tide in a research report on Wednesday, September 18th. Roth Capital upgraded High Tide to a “strong-buy” rating in a research note on Friday, November 8th.

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.