Creative Planning Makes New Investment in High Tide Inc. (NASDAQ:HITI)

Creative Planning acquired a new position in shares of High Tide Inc. (NASDAQ:HITI) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 12,312 shares of the company’s stock, valued at approximately $98,000.

HITI stock opened at $7.30 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $6.89. High Tide Inc. has a 12-month low of $1.67 and a 12-month high of $13.29.

High Tide (NASDAQ:HITI) last posted its quarterly earnings data on Monday, June 28th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). High Tide had a negative return on equity of 37.66% and a negative net margin of 21.16%. The business had revenue of $32.46 million for the quarter. Analysts anticipate that High Tide Inc. will post 0.09 earnings per share for the current fiscal year.

A number of analysts have commented on the company. Roth Capital assumed coverage on High Tide in a report on Monday. They set a “buy” rating and a $12.00 price objective for the company. Desjardins started coverage on High Tide in a report on Thursday, September 2nd. They set a “buy” rating and a $15.00 price objective for the company.

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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Institutional Ownership by Quarter for High Tide (NASDAQ:HITI)

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