Roth Mkm Reaffirms “Buy” Rating for High Tide (NASDAQ:HITI)

Roth Mkm reiterated their buy rating on shares of High Tide (NASDAQ:HITI) in a report published on Monday, Benzinga reports. Roth Mkm currently has a $4.50 price objective on the stock.

Separately, TheStreet upgraded High Tide from a d rating to a c- rating in a report on Friday, March 15th.

High Tide Stock Up 5.1 %

Shares of NASDAQ HITI opened at $2.06 on Monday. The firm has a 50 day moving average price of $1.79 and a 200 day moving average price of $1.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.69 and a current ratio of 1.13. The stock has a market cap of $162.58 million, a P/E ratio of -6.24 and a beta of 0.49. High Tide has a 52-week low of $1.14 and a 52-week high of $2.30.

High Tide (NASDAQ:HITI) last released its quarterly earnings data on Monday, March 18th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $94.76 million during the quarter, compared to analysts’ expectations of $94.43 million. High Tide had a negative net margin of 7.46% and a negative return on equity of 2.03%. During the same quarter in the prior year, the company earned ($0.05) EPS. Analysts expect that High Tide will post -0.01 EPS for the current year.

Institutional Investors Weigh In On High Tide

Several institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. bought a new position in High Tide during the 1st quarter worth about $53,000. Royal Bank of Canada boosted 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 worth $86,000 after buying an additional 11,748 shares during the period. Renaissance Technologies LLC acquired a new position in shares of High Tide during the second quarter worth about $29,000. JW Asset Management LLC grew its holdings in shares of High Tide by 36.2% during the fourth quarter. JW Asset Management LLC now owns 102,144 shares of the company’s stock worth $166,000 after buying an additional 27,144 shares in the last quarter. Finally, Jane Street Group LLC raised its position in High Tide by 279.7% in the 1st quarter. Jane Street Group LLC now owns 53,384 shares of the company’s stock valued at $72,000 after buying an additional 39,324 shares during the last quarter. 4.52% of the stock is 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.