High Tide (NASDAQ:HITI) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

High Tide (NASDAQ:HITI) announced its earnings results on Monday. The company reported $0.01 EPS 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 the consensus estimate of $93.70 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share.

High Tide Trading Down 2.3 %

NASDAQ HITI opened at $2.14 on Wednesday. The business’s fifty 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 stock has a market capitalization of $172.15 million, a price-to-earnings ratio of -6.69 and a beta of 0.47. High Tide has a one year low of $1.14 and a one year high of $2.85.

Analyst Ratings Changes

Separately, Ventum Cap Mkts upgraded shares of High Tide to a “strong-buy” rating in a research note on Tuesday, July 16th.

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.