High Tide (NASDAQ:HITI) Releases Earnings Results, Misses Estimates By $0.01 EPS

High Tide (NASDAQ:HITI) released its earnings results on Monday. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01), Zacks reports. High Tide had a negative net margin of 0.81% and a negative return on equity of 2.93%.

High Tide Stock Up 3.0 %

Shares of High Tide stock traded up $0.07 during trading on Monday, reaching $2.43. 700,503 shares of the company traded hands, compared to its average volume of 681,672. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.40 and a quick ratio of 0.92. The company has a 50 day moving average price of $2.74 and a 200-day moving average price of $2.69. High Tide has a 1-year low of $1.57 and a 1-year high of $3.62. The firm has a market capitalization of $196.63 million, a PE ratio of -81.00 and a beta of 0.48.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in High Tide stock. Bank of America Corp DE acquired a new stake in High Tide Inc. (NASDAQ:HITI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 23,200 shares of the company’s stock, valued at approximately $72,000. 4.52% of the stock is currently owned by institutional investors.

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.