High Tide (HITI) to Release Quarterly Earnings on Thursday

Posted by Defense World Staff on Sep 7th, 2023

High Tide (NASDAQ:HITI – Get Free Report) is scheduled to issue its quarterly earnings data after the market closes on Thursday, September 14th. Analysts expect the company to announce earnings of ($0.04) per share for the quarter.

High Tide (NASDAQ:HITI – Get Free Report) last posted its earnings results on Wednesday, June 14th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. High Tide had a negative net margin of 13.82% and a negative return on equity of 7.25%. The company had revenue of $87.13 million during the quarter, compared to analysts’ expectations of $84.84 million. On average, analysts expect High Tide to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

High Tide Stock Performance

Shares of NASDAQ HITI opened at $1.50 on Thursday. The company’s fifty day moving average price is $1.27 and its 200 day moving average price is $1.28. High Tide has a 1 year low of $1.03 and a 1 year high of $2.23. The company has a market capitalization of $112.64 million, a PE ratio of -2.08 and a beta of 0.57. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.61 and a current ratio of 1.10.

Institutional Investors Weigh In On High Tide

A number of hedge funds and other institutional investors have recently modified their holdings of HITI. Citigroup Inc. bought a new stake in shares of High Tide in the 1st quarter valued at approximately $53,000. Royal Bank of Canada boosted its position in High Tide by 162.9% during the first 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 period. Millennium Management LLC bought a new stake in High Tide during the second quarter worth approximately $80,000. Jane Street Group LLC boosted its position in High Tide by 149.6% during the second quarter. Jane Street Group LLC now owns 88,220 shares of the company’s stock worth $179,000 after purchasing an additional 52,882 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in High Tide during the second quarter worth approximately $29,000. 3.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus began coverage on shares of High Tide in a research report on Wednesday, August 2nd. They set a “buy” rating for the company.

Read Our Latest Stock Analysis on HITI

High Tide Company Profile

(Get Free Report)

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