The stock of High Tide Inc. (NASDAQ:HITI) last traded at $1.62, up 3.18% from the previous session.
Data from the available sources indicates that High Tide Inc. (NASDAQ:HITI) is covered by 5 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $12.00 and a low of $2.75, we find $6.50. Given the previous closing price of $1.57, this indicates a potential upside of 314.01 percent. HITI stock price is now 2.02% away from the 50-day moving average and -15.18% away from the 200-day moving average. The market capitalization of the company currently stands at $150.63M.
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In total, 1 analysts have assigned it a hold rating, and 4 have given it a buy rating. Brokers who have rated the stock have averaged $6.75 as their price target over the next twelve months.
On September 13, 2021, ROTH Capital recently initiated its ‘Buy’ rating on the stock quoting a target price of $12, while ‘Desjardins’ rates the stock as ‘Buy’.
A total of 9.44% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HITI stock. A new stake in High Tide Inc. shares was purchased by HIGHBRIDGE CAPITAL MANAGEMENT LLC during the first quarter worth $272,000. In total, there are 34 active investors with 7.78% ownership of the company’s stock.
With an opening price of $1.6200 on Thursday morning, High Tide Inc. (NASDAQ: HITI) set off the trading day. During the past 12 months, High Tide Inc. has had a low of $1.30 and a high of $5.89. As of last week, the company has a debt-to-equity ratio of 0.32, a current ratio of 1.20, and a quick ratio of 0.80. The fifty day moving average price for HITI is $1.5880 and a two-hundred day moving average price translates $1.9100 for the stock.
The latest earnings results from High Tide Inc. (NASDAQ: HITI) was released for Jul, 2022. According to the Pharmaceutical Retailers Company, earnings per share came in at -$0.03, beating analysts’ expectations of -$0.09 by 0.06. This compares to -$0.03 EPS in the same period last year. The net profit margin was -8.90% and return on equity was -15.30% for HITI. The company reported revenue of $74.11 million for the quarter, compared to $39.13 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 89.4 percent. For the current quarter, analysts expect HITI to generate $74.43M in revenue.
High Tide Inc.(HITI) Company Profile
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. In addition, the company provides data analytics services, as well as operates Grasscity.com and CBDcity.com platforms. As of October 25, 2022, it operated 149 retail locations in Ontario, Alberta, British Columbia, Manitoba, and Saskatchewan. The company was formerly known as High Tide Ventures Inc. and changed its name to High Tide Inc. in October 2018. High Tide Inc. was founded in 2009 and is headquartered in Calgary, Canada.
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