High Tide (NASDAQ:HITI) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

High Tide (NASDAQ:HITI) announced its earnings results on Monday. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03, Zacks reports. The firm had revenue of $96.04 million for the quarter, compared to the consensus estimate 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 previous year, the business earned ($0.03) EPS.

High Tide Trading Down 2.3 %

NASDAQ:HITI opened at $2.14 on Wednesday. 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 fifty day simple moving average of $1.95 and a 200-day simple moving average of $2.11. High Tide has a 12 month low of $1.14 and a 12 month high of $2.85. The company has a market capitalization of $172.15 million, a P/E ratio of -6.69 and a beta of 0.47.

Analyst Upgrades and Downgrades

Separately, Ventum Cap Mkts upgraded shares of High Tide to a “strong-buy” rating in a report on Tuesday, July 16th.

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.