High Tide (NASDAQ:HITI) Shares Cross Above Fifty Day Moving Average – Should You Sell?

Shares of High Tide Inc. (NASDAQ:HITI) crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $2.61 and traded as high as $2.70. High Tide shares last traded at $2.67, with a volume of 293,197 shares.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of High Tide in a report on Thursday, October 15th. Wall Street Zen raised High Tide from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Finally, D. Boral Capital assumed coverage on High Tide in a research report on Wednesday, July 22nd. They set a “buy” rating and a $4.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, High Tide currently has a consensus rating of “Moderate Buy” and an average target price of $5.62.

High Tide Stock Down 1.1%

The company has a current ratio of 1.50, a quick ratio of 0.81 and a debt-to-equity ratio of 0.82. The business’s fifty day moving average price is $2.62 and its 200 day moving average price is $2.43. The company has a market capitalization of $237.14 million, a P/E ratio of -11.56 and a beta of 0.56.

High Tide (NASDAQ:HITI) last posted its earnings results on Monday, September 14th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. The business had revenue of $141.74 million for the quarter, compared to analysts’ expectations of $138.97 million. High Tide had a negative net margin of 4.73% and a positive return on equity of 5.13%. As a group, equities research analysts predict that High Tide Inc. will post 0.09 earnings per share for the current fiscal year.

Institutional Trading of High Tide

Institutional investors have recently bought and sold shares of the stock. Friday Financial bought a new position in shares of High Tide in the second quarter valued at approximately $29,000. AXQ Capital LP bought a new stake in High Tide during the 2nd quarter worth approximately $86,000. TopTier Wealth Management LLC bought a new stake in High Tide during the 3rd quarter worth approximately $169,000. TD Waterhouse Canada Inc. grew its position in High Tide by 1,562.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 92,462 shares of the company’s stock worth $246,000 after acquiring an additional 86,900 shares during the last quarter. Finally, State of Wyoming acquired a new stake in High Tide during the 1st quarter valued at $387,000. Institutional investors and hedge funds own 4.52% of the company’s stock.

High Tide Company Profile

High Tide Inc is a Canadian cannabis company focused primarily on the retail sale of adult-use cannabis and cannabis-related products. The company operates its retail business under the Canna Cabana banner and offers cannabis flower, pre-rolls, vapes, edibles, beverages, concentrates and accessories, subject to applicable regulations.

High Tide also operates the Cabana Club customer loyalty program and Fastendr, a technology platform designed to support cannabis retail, online ordering and in-store purchasing.