Roth Capital Brokers Lower Earnings Estimates for High Tide Inc. (NASDAQ:HITI)

High Tide Inc. (NASDAQ:HITIFree Report) – Equities researchers at Roth Capital decreased their Q3 2024 earnings per share estimates for shares of High Tide in a report released on Wednesday, January 31st. Roth Capital analyst S. Fortune now forecasts that the company will post earnings of ($0.01) per share for the quarter, down from their previous forecast of $0.01. The consensus estimate for High Tide’s current full-year earnings is ($0.02) per share. Roth Capital also issued estimates for High Tide’s Q4 2024 earnings at $0.00 EPS.

High Tide Stock Down 0.5 %

NASDAQ:HITI opened at $1.87 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.70 and a current ratio of 1.18. The firm has a market cap of $146.91 million, a P/E ratio of -5.05 and a beta of 0.50. High Tide has a fifty-two week low of $1.03 and a fifty-two week high of $2.30. The firm has a 50-day simple moving average of $1.69 and a two-hundred day simple moving average of $1.54.

Institutional Investors Weigh In On High Tide

Several institutional investors and hedge funds have recently made changes to their positions in HITI. Citigroup Inc. purchased a new position in High Tide in the 1st quarter worth about $53,000. Royal Bank of Canada boosted its holdings in High Tide by 162.9% in 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 last quarter. Renaissance Technologies LLC purchased a new stake in High Tide in the second quarter worth approximately $29,000. AdvisorShares Investments LLC grew its position in High Tide by 2.2% in the 2nd quarter. AdvisorShares Investments LLC now owns 1,374,062 shares of the company’s stock worth $1,704,000 after purchasing an additional 30,000 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of High Tide by 279.7% during the 1st quarter. Jane Street Group LLC now owns 53,384 shares of the company’s stock valued at $72,000 after buying an additional 39,324 shares during the period. Institutional investors own 3.12% of the company’s stock.

High Tide Company Profile

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High Tide Inc engages in the cannabis retail business in Canada, the United States, and internationally. The company operates two segments, Retail and Wholesale. The company operates licensed retail cannabis stores; and provides data analytics services. It also manufactures and distributes consumption accessories.

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