High Tide (HITI) Set to Announce Quarterly Earnings on Wednesday

High Tide (NASDAQ:HITI – Get Rating) will release its earnings data after the market closes on Wednesday, June 14th. Analysts expect High Tide to post earnings of ($0.04) per share for the quarter.

High Tide (NASDAQ:HITI – Get Rating) last issued its earnings results on Friday, March 17th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. High Tide had a negative net margin of 16.61% and a negative return on equity of 10.80%. The business had revenue of $87.68 million for the quarter, compared to the consensus estimate of $82.62 million.

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High Tide Stock Performance

Shares of HITI stock opened at $1.26 on Wednesday. The company’s fifty day simple moving average is $1.31 and its 200-day simple moving average is $1.42. The company has a market cap of $94.61 million, a PE ratio of -1.54 and a beta of 0.61. High Tide has a 52 week low of $1.03 and a 52 week high of $2.74. The company has a current ratio of 1.05, a quick ratio of 0.64 and a debt-to-equity ratio of 0.18.

Institutional Investors Weigh In On High Tide

A number of institutional investors have recently modified their holdings of the business. Citigroup Inc. bought a new stake in shares of High Tide during the 1st quarter valued at about $53,000. Royal Bank of Canada grew its position in High Tide by 162.9% in the 1st quarter. Royal Bank of Canada now owns 18,961 shares of the company’s stock worth $86,000 after purchasing an additional 11,748 shares during the last quarter. Jane Street Group LLC grew its position in High Tide by 279.7% in the 1st quarter. Jane Street Group LLC now owns 53,384 shares of the company’s stock worth $72,000 after purchasing an additional 39,324 shares during the last quarter. Finally, Millennium Management LLC bought a new position in High Tide in the 2nd quarter worth about $80,000. Institutional investors own 1.73% of the company’s stock.

About High Tide

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High Tide Inc engages in the cannabis retail business in Canada, Europe, the United States, and internationally. The company designs, manufactures, and distributes 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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