Brokers Issue Forecasts for High Tide Inc.’s Q4 2024 Earnings (NASDAQ:HITI)

High Tide Inc. (NASDAQ:HITI) – Research analysts at Atb Cap Markets issued their Q4 2024 earnings per share (EPS) estimates for shares of High Tide in a report issued on Saturday, September 16th. Atb Cap Markets analyst F. Gomes expects that the company will earn ($0.01) per share for the quarter. The consensus estimate for High Tide’s current full-year earnings is ($0.12) per share. Atb Cap Markets also issued estimates for High Tide’s FY2025 earnings at $0.01 EPS, FY2026 earnings at $0.13 EPS and FY2027 earnings at $0.27 EPS.

HITI has been the subject of a number of other research reports. Stifel Nicolaus initiated coverage on High Tide in a research note on Wednesday, August 2nd. They issued a “buy” rating for the company. Roth Mkm reiterated a “buy” rating and issued a $4.50 price target on shares of High Tide in a research note on Monday.

High Tide Price Performance

NASDAQ:HITI opened at $1.79 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.70 and a current ratio of 1.16. High Tide has a one year low of $1.03 and a one year high of $2.23. The business has a fifty day moving average price of $1.36 and a 200-day moving average price of $1.30.

High Tide (NASDAQ:HITI) last posted its quarterly earnings data on Friday, September 15th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $93.17 million during the quarter, compared to analyst estimates of $89.14 million. High Tide had a negative return on equity of 8.23% and a negative net margin of 13.23%. During the same period in the prior year, the business posted ($0.03) EPS.

Institutional Investors Weigh In On High Tide

A number of institutional investors have recently bought and sold shares of HITI. Citigroup Inc. purchased a new stake in High Tide in the 1st quarter worth $53,000. Royal Bank of Canada grew its position in shares of High Tide by 162.9% during the first quarter. Royal Bank of Canada now owns 18,961 shares of the company’s stock valued at $86,000 after purchasing an additional 11,748 shares in the last quarter. Millennium Management LLC purchased a new position in shares of High Tide during the second quarter valued at about $80,000. Jane Street Group LLC grew its position in shares of High Tide by 149.6% during the second quarter. Jane Street Group LLC now owns 88,220 shares of the company’s stock valued at $179,000 after purchasing an additional 52,882 shares in the last quarter. Finally, AdvisorShares Investments LLC grew its position in shares of High Tide by 55.2% during the first quarter. AdvisorShares Investments LLC now owns 1,344,062 shares of the company’s stock valued at $1,835,000 after purchasing an additional 477,879 shares in the last quarter. Hedge funds and other institutional investors own 3.12% of the company’s stock.

High Tide Company Profile

High Tide Inc engages in the cannabis retail business in Canada, Europe, the United States, and internationally. The company manufactures and distributes smoking accessories and cannabis lifestyle products. It is also involved in the wholesale and retailing of cannabis products, as well as operates and franchises licensed retail cannabis stores.