In a report issued on January 5, Andrew Semple from Echelon Wealth Partners reiterated a Buy rating on High Tide (HITI – Research Report), with a price target of C$18.00. The company’s shares closed last Friday at $4.59, close to its 52-week low of $4.45.
According to TipRanks.com, Semple is a 4-star analyst with an average return of 25.5% and a 31.1% success rate. Semple covers the Basic Materials sector, focusing on stocks such as Green Thumb Industries, Fire & Flower Holdings, and Trulieve Cannabis.
Currently, the analyst consensus on High Tide is a Strong Buy with an average price target of $10.92.
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Based on High Tide’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $48.07 million and GAAP net loss of $1.82 million. In comparison, last year the company earned revenue of $24.1 million and had a net profit of $3.78 million.
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High Tide, Inc. operates as a counterculture chain, which engages in the manufacture and retail of cannabis accessories. The firm operates through the Wholesale and Retail business segments. Its brands include: Famous Brandz, RGR, Smoker’s Corner, Canna Cabana, KushBar, and Kush West. T