Arrowstreet Capital Limited Partnership Makes New $1.61 Million Investment in High Tide Inc. (NASDAQ:HITI)

Arrowstreet Capital Limited Partnership bought a new stake in High Tide Inc. (NASDAQ:HITI) during the 4th quarter, HoldingsChannel.com reports. The firm bought 521,179 shares of the company’s stock, valued at approximately $1,605,000.

A number of other institutional investors have also recently made changes to their positions in HITI. Hillsdale Investment Management Inc. raised its stake in High Tide by 755.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 240,288 shares of the company’s stock valued at $738,000 after purchasing an additional 212,197 shares during the last quarter. Northwest & Ethical Investments L.P. raised its position in shares of High Tide by 1,026.2% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 22,378 shares of the company’s stock valued at $69,000 after buying an additional 20,391 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of High Tide in the fourth quarter worth about $146,000. Chicago Partners Investment Group LLC acquired a new position in High Tide during the fourth quarter worth about $451,000. Finally, Benin Management CORP grew its stake in High Tide by 100.0% during the 4th quarter. Benin Management CORP now owns 20,000 shares of the company’s stock valued at $62,000 after acquiring an additional 10,000 shares in the last quarter. 4.52% of the stock is owned by institutional investors and hedge funds.

High Tide Trading Up 2.6 %

HITI opened at $1.97 on Friday. The firm has a market capitalization of $159.45 million, a price-to-earnings ratio of -65.67 and a beta of 0.61. The company’s 50 day simple moving average is $2.31 and its two-hundred day simple moving average is $2.67. High Tide Inc. has a 1-year low of $1.57 and a 1-year high of $3.62. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.40 and a quick ratio of 0.92.

High Tide (NASDAQ:HITI) last announced its quarterly earnings data on Friday, March 21st. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The company had revenue of $100.25 million for the quarter, compared to analysts’ expectations of $138.83 million. High Tide had a negative return on equity of 2.93% and a negative net margin of 0.81%. Analysts expect that High Tide Inc. will post -0.04 EPS for the current fiscal year.

High Tide Company Profile

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