High Tide (NASDAQ:HITI) Issues Earnings Results

High Tide (NASDAQ:HITI) released its quarterly earnings data on Monday. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03, Zacks reports. The company had revenue of $96.04 million for the quarter, compared to analyst estimates of $93.70 million. High Tide had a negative return on equity of 1.06% and a negative net margin of 7.07%. During the same period in the prior year, the company posted ($0.03) EPS.

High Tide Trading Down 1.4 %

Shares of NASDAQ:HITI traded down $0.03 during trading on Wednesday, hitting $2.11. 620,434 shares of the company’s stock were exchanged, compared to its average volume of 538,820. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 0.21. The firm has a market cap of $169.74 million, a P/E ratio of -6.59 and a beta of 0.47. The firm has a 50-day moving average price of $1.95 and a two-hundred day moving average price of $2.11. High Tide has a 1-year low of $1.14 and a 1-year high of $2.85.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Roth Mkm reiterated a “buy” rating and issued a $4.50 price target on shares of High Tide in a research report on Wednesday. Ventum Cap Mkts raised shares of High Tide to a “strong-buy” rating in a report 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.