High Tide Inc. (NASDAQ:HITI – Get Free Report) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 3,120,000 shares, a drop of 5.5% from the March 15th total of 3,300,000 shares. Approximately 4.6% of the company’s stock are short sold. Based on an average daily volume of 484,700 shares, the short-interest ratio is currently 6.4 days.
High Tide Stock Down 0.9 %
NASDAQ:HITI opened at $2.24 on Tuesday. High Tide has a fifty-two week low of $1.14 and a fifty-two week high of $2.85. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.69 and a current ratio of 1.13. The company’s 50-day simple moving average is $1.91 and its 200-day simple moving average is $1.71.
High Tide (NASDAQ:HITI – Get Free Report) last released its earnings results on Monday, March 18th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The company had revenue of $94.76 million during the quarter, compared to analysts’ expectations of $94.43 million. High Tide had a negative net margin of 7.46% and a negative return on equity of 2.03%. During the same period last year, the business earned ($0.05) EPS.
Hedge Funds Weigh In On High Tide
Analyst Upgrades and Downgrades
A number of research analysts have commented on HITI shares. Roth Mkm reissued a “buy” rating and set a $4.50 target price on shares of High Tide in a research report on Monday, March 25th. TheStreet raised shares of High Tide from a “d” rating to a “c-” rating in a research report on Friday, March 15th.
Read Our Latest Stock Report on HITI
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.
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