High Tide (NASDAQ:HITI) Stock Rating Upgraded by Roth Capital

High Tide (NASDAQ:HITI) was upgraded by investment analysts at Roth Capital to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

HITI has been the subject of several other reports. Roth Mkm restated a “buy” rating and issued a $4.50 price objective on shares of High Tide in a research note on Wednesday, September 18th. Ventum Cap Mkts upgraded shares of High Tide to a “strong-buy” rating in a research note on Tuesday, July 16th.

High Tide Stock Down 3.6 %

HITI stock opened at $2.65 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. High Tide has a 52 week low of $1.14 and a 52 week high of $3.12. The stock has a market capitalization of $213.18 million, a PE ratio of -9.46 and a beta of 0.39. The firm has a 50 day moving average of $2.40 and a 200 day moving average of $2.24.

High Tide (NASDAQ:HITI) last announced its quarterly earnings data on Monday, September 16th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The firm had revenue of $96.04 million for the quarter, compared to analyst estimates of $93.70 million. High Tide had a negative net margin of 6.14% and a positive return on equity of 2.06%. During the same period in the previous year, the company earned ($0.03) earnings per share. Sell-side analysts forecast that High Tide will post -0.01 earnings per share for the current year.

Institutional Trading of High Tide

A number of hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd acquired a new position in High Tide in the first quarter valued at approximately $32,000. Perritt Capital Management Inc. purchased a new position in shares of High Tide during the 1st quarter valued at approximately $132,000. Virtu Financial LLC acquired a new position in shares of High Tide in the first quarter worth about $153,000. Baader Bank Aktiengesellschaft boosted its position in High Tide by 25.9% during 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. Finally, Perritt Capital Management Inc grew its stake in High Tide by 92.3% in the 2nd quarter. Perritt Capital Management Inc now owns 125,000 shares of the company’s stock valued at $276,000 after acquiring an additional 60,000 shares during the period. Hedge funds and other institutional investors 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.