Wall Street brokerages expect High Tide Inc. (NASDAQ:HITI) to announce ($0.12) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for High Tide’s earnings. The lowest EPS estimate is ($0.17) and the highest is ($0.06). The firm is expected to report its next quarterly earnings report after the market closes on Thursday, January 27th.
On average, analysts expect that High Tide will report full-year earnings of ($0.71) per share for the current fiscal year, with EPS estimates ranging from ($0.94) to ($0.47). For the next year, analysts expect that the company will post earnings of ($0.21) per share, with EPS estimates ranging from ($0.42) to $0.00. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow High Tide.
Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of High Tide from a “buy” rating to a “hold” rating in a report on Wednesday. Echelon Wealth Partners restated a “speculative buy” rating on shares of High Tide in a report on Thursday, October 7th. Cantor Fitzgerald cut their target price on shares of High Tide from $8.75 to $7.75 and set a “neutral” rating on the stock in a report on Friday, December 10th. Finally, Desjardins cut their target price on shares of High Tide from C$15.00 to C$13.50 and set a “buy” rating on the stock in a report on Friday, October 22nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, High Tide presently has a consensus rating of “Buy” and an average target price of $11.60.
Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada purchased a new stake in High Tide in the second quarter worth $38,000. Morgan Stanley purchased a new stake in High Tide in the second quarter worth $69,000. Bank of Montreal Can purchased a new stake in High Tide in the second quarter worth $132,000. CIBC World Markets Inc. purchased a new stake in High Tide in the second quarter worth $152,000. Finally, Jane Street Group LLC lifted its stake in High Tide by 314.4% in the third quarter. Jane Street Group LLC now owns 48,352 shares of the company’s stock worth $300,000 after acquiring an additional 36,684 shares during the period. 3.63% of the stock is owned by institutional investors.
NASDAQ HITI traded down $0.13 on Friday, reaching $4.11. 4,033 shares of the company’s stock traded hands, compared to its average volume of 111,575. High Tide has a 12 month low of $4.16 and a 12 month high of $13.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.62 and a quick ratio of 1.18. The stock has a 50-day simple moving average of $5.32 and a 200 day simple moving average of $6.21. The stock has a market cap of $244.59 million and a PE ratio of -70.67.
High Tide Company Profile
High Tide Inc operates as a vertically-integrated company in the cannabis market in Canada, the United States, and internationally. It engages in the design, manufacture, and distribution of 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.
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