Analysts expect High Tide Inc. (NASDAQ:HITI) to post sales of $41.91 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for High Tide’s earnings, with the lowest sales estimate coming in at $41.04 million and the highest estimate coming in at $43.01 million. High Tide reported sales of $18.82 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 122.7%. The business is scheduled to announce its next earnings report on Monday, March 7th.
On average, analysts expect that High Tide will report full-year sales of $144.11 million for the current financial year, with estimates ranging from $142.80 million to $146.11 million. For the next fiscal year, analysts expect that the business will report sales of $283.49 million, with estimates ranging from $238.60 million to $325.68 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for High Tide.
High Tide (NASDAQ:HITI) last released its quarterly earnings results on Tuesday, September 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.12). High Tide had a negative return on equity of 32.36% and a negative net margin of 21.02%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada purchased a new position in shares of High Tide in the second quarter valued at $38,000. Morgan Stanley purchased a new position in shares of High Tide in the second quarter valued at $69,000. Creative Planning purchased a new position in shares of High Tide in the second quarter valued at $98,000. Bank of Montreal Can purchased a new position in shares of High Tide in the second quarter valued at $132,000. Finally, CIBC World Markets Inc. purchased a new position in shares of High Tide in the second quarter valued at $152,000.
Shares of NASDAQ HITI traded down $0.05 during midday trading on Thursday, reaching $6.64. 102,132 shares of the company were exchanged, compared to its average volume of 330,858. The company has a quick ratio of 1.18, a current ratio of 1.62 and a debt-to-equity ratio of 0.21. High Tide has a 1 year low of $1.93 and a 1 year high of $13.29. The company’s fifty day moving average is $6.47.
High Tide Company Profile
High Tide Inc operates as a vertically-integrated company in the cannabis market in Canada, the United States, and internationally. It engages in the design, manufacture, and distribution of 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.
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