High Tide Inc. (NASDAQ:HITI) Short Interest Update

High Tide Inc. (NASDAQ:HITIGet Free Report) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 3,300,000 shares, a growth of 8.6% from the February 29th total of 3,040,000 shares. Approximately 4.9% of the shares of the company are sold short. Based on an average trading volume of 302,500 shares, the days-to-cover ratio is presently 10.9 days.

High Tide Stock Performance

Shares of NASDAQ HITI opened at $2.22 on Wednesday. The stock has a 50 day moving average of $1.81 and a 200-day moving average of $1.68. The company has a market capitalization of $176.09 million, a P/E ratio of -6.73 and a beta of 0.54. High Tide has a 12 month low of $1.14 and a 12 month high of $2.30. The company has a current ratio of 1.13, a quick ratio of 0.69 and a debt-to-equity ratio of 0.20.

High Tide (NASDAQ:HITIGet Free Report) last released its quarterly earnings results on Monday, March 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. The business had revenue of $94.76 million during the quarter, compared to the consensus estimate of $94.43 million. High Tide had a negative return on equity of 2.03% and a negative net margin of 7.46%. During the same period in the previous year, the company posted ($0.05) EPS.

Wall Street Analyst Weigh In

Several research analysts have recently commented on HITI shares. Roth Mkm reiterated a “buy” rating and set a $4.50 target price on shares of High Tide in a research note on Monday, March 25th. TheStreet upgraded High Tide from a “d” rating to a “c-” rating in a research note on Friday, March 15th.

Get Our Latest Research Report on HITI

Institutional Trading of High Tide

Several institutional investors have recently added to or reduced their stakes in the company. CVA Family Office LLC bought a new stake in High Tide in the 3rd quarter valued at $2,897,000. AdvisorShares Investments LLC raised its holdings in shares of High Tide by 13.4% during the 3rd quarter. AdvisorShares Investments LLC now owns 1,558,342 shares of the company’s stock worth $2,883,000 after buying an additional 184,280 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of High Tide during the 4th quarter worth $1,134,000. JW Asset Management LLC raised its holdings in shares of High Tide by 36.2% during the 4th quarter. JW Asset Management LLC now owns 102,144 shares of the company’s stock worth $166,000 after buying an additional 27,144 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of High Tide by 149.6% during the 2nd quarter. Jane Street Group LLC now owns 88,220 shares of the company’s stock worth $179,000 after buying an additional 52,882 shares in the last quarter. 4.52% of the stock is currently owned by institutional investors.

High Tide Company Profile

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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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