High Tide (NASDAQ:HITI) Stock Rating Upgraded by Roth Capital

High Tide (NASDAQ:HITI) was upgraded by investment analysts at Roth Capital to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

A number of other equities analysts have also weighed in on HITI. Roth Mkm reaffirmed a “buy” rating and issued a $4.50 target price on shares of High Tide in a research note on Wednesday, September 18th. Ventum Cap Mkts raised High Tide to a “strong-buy” rating in a research report on Tuesday, July 16th.

High Tide Trading Down 3.6 %

Shares of NASDAQ HITI opened at $2.65 on Friday. The company’s fifty day moving average is $2.40 and its 200-day moving average is $2.24. The stock has a market cap of $213.18 million, a price-to-earnings ratio of -9.46 and a beta of 0.39. High Tide has a twelve month low of $1.14 and a twelve month high of $3.12. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.20.

High Tide (NASDAQ:HITI) last announced its quarterly earnings results on Monday, September 16th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $96.04 million for the quarter, compared to analysts’ expectations of $93.70 million. High Tide had a negative net margin of 6.14% and a positive return on equity of 2.06%. During the same period last year, the firm posted ($0.03) earnings per share. Equities research analysts predict that High Tide will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Baader Bank Aktiengesellschaft boosted its holdings in shares of High Tide by 25.9% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 251,741 shares of the company’s stock valued at $555,000 after buying an additional 51,741 shares during the last quarter. Perritt Capital Management Inc lifted its stake in High Tide by 92.3% in the second quarter. Perritt Capital Management Inc now owns 125,000 shares of the company’s stock valued at $276,000 after acquiring an additional 60,000 shares during the last quarter. Virtu Financial LLC acquired a new stake in High Tide in the first quarter valued at $153,000. Perritt Capital Management Inc. bought a new position in shares of High Tide in the 1st quarter valued at about $132,000. Finally, Quadrature Capital Ltd acquired a new position in shares of High Tide during the 1st quarter worth about $32,000. 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.