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

High Tide (NASDAQ:HITI)‘s stock had its “buy” rating restated by equities research analysts at Roth Mkm in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $4.50 target price on the stock. Roth Mkm’s price target suggests a potential upside of 110.28% from the stock’s previous close.

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

High Tide Stock Down 2.3 %

Shares of NASDAQ HITI opened at $2.14 on Wednesday. The stock has a market cap of $172.15 million, a PE ratio of -6.69 and a beta of 0.47. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 0.21. High Tide has a 52-week low of $1.14 and a 52-week high of $2.85. The business has a 50-day moving average price of $1.95 and a 200 day moving average price of $2.11.

High Tide (NASDAQ:HITI) last announced its earnings results on Monday, September 16th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The firm had revenue of $96.04 million during the quarter, compared to analysts’ expectations 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 firm earned ($0.03) EPS. Equities research analysts forecast that High Tide will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On High Tide

A number of large investors have recently bought and sold shares of HITI. JW Asset Management LLC increased its position 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 acquiring an additional 27,144 shares during the last quarter. Quadrature Capital Ltd acquired a new position in High Tide in the first quarter worth about $32,000. Perritt Capital Management Inc. acquired a new position in High Tide in the first quarter worth about $132,000. Virtu Financial LLC acquired a new position in High Tide in the first quarter worth about $153,000. Finally, Baader Bank Aktiengesellschaft grew its stake in High Tide by 25.9% in the second quarter. Baader Bank Aktiengesellschaft now owns 251,741 shares of the company’s stock worth $555,000 after purchasing an additional 51,741 shares in the last quarter. Institutional investors and hedge funds own 4.52% of the company’s stock.

High Tide Company Profile

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.