High Tide (NASDAQ:HITI – Get Free Report) issued its earnings results on Monday. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01, Zacks reports. High Tide had a negative net margin of 4.73% and a positive return on equity of 5.34%. The company had revenue of $141.74 million for the quarter, compared to the consensus estimate of $138.97 million.
High Tide Stock Performance
Shares of HITI stock opened at $2.54 on Wednesday. High Tide has a 12 month low of $2.02 and a 12 month high of $4.06. The stock has a market cap of $225.81 million, a PE ratio of -11.04 and a beta of 0.62. The company has a current ratio of 1.46, a quick ratio of 0.66 and a debt-to-equity ratio of 0.89. The company’s fifty day moving average price is $2.34 and its 200-day moving average price is $2.37.
Analysts Set New Price Targets
HITI has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of High Tide in a report on Friday, July 17th. D. Boral Capital assumed coverage on shares of High Tide in a research note on Wednesday, July 22nd. They set a “buy” rating and a $4.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, High Tide has an average rating of “Moderate Buy” and an average target price of $5.62.
About High Tide
High Tide Inc is a Canadian cannabis company focused on the retail and sale of cannabis products and consumption accessories. Its retail operations are conducted primarily under the Canna Cabana brand, while its digital platforms support online shopping, customer engagement and loyalty programs.
The company offers a range of products, including dried cannabis, pre-rolls, cannabis oils, edibles, beverages and other cannabis formats, subject to applicable regulations. Through related brands and platforms, High Tide also sells smoking accessories and other products designed for cannabis consumers.
Founded in 2009, High Tide is headquartered in Calgary, Alberta, and serves Canadian consumers through its retail network and e-commerce operations.
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