High Tide (NASDAQ:HITI) Announces Quarterly Earnings Results

High Tide (NASDAQ:HITI) released its quarterly earnings data on Monday. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01, Zacks reports. High Tide had a negative net margin of 6.62% and a positive return on equity of 3.59%.

High Tide Stock Performance

Shares of High Tide stock traded up $0.10 during trading hours on Monday, hitting $2.63. 3,474,665 shares of the company’s stock traded hands, compared to its average volume of 515,964. High Tide has a 12-month low of $2.02 and a 12-month high of $4.06. The company has a fifty day simple moving average of $2.33 and a 200-day simple moving average of $2.36. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.46 and a quick ratio of 0.66. The stock has a market capitalization of $233.81 million, a price-to-earnings ratio of -8.48 and a beta of 0.62.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on HITI shares. D. Boral Capital initiated coverage on shares of High Tide in a research report on Wednesday, July 22nd. They set a “buy” rating and a $4.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of High Tide in a report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.62.

About High Tide

High Tide Inc (NASDAQ: HITI) is an omnichannel retailer and branded consumer packaged goods company serving the regulated cannabis market. The company operates a network of licensed cannabis retail stores across Canada, offering a curated assortment of cannabis flower, pre-rolls, vapes and lifestyle accessories. In parallel, High Tide maintains an e-commerce platform that delivers hemp-derived products, vaporizers, glassware and other ancillary goods to consumers in multiple jurisdictions.

Within Canada, High Tide’s retail division includes banners such as Canna Cabana, Meta Cannabis Supply Co and The Hunny Pot, each designed to provide differentiated in-store experiences.