High Tide (NASDAQ:HITI) Shares Down 2.4%

High Tide Inc. (NASDAQ:HITIGet Free Report)’s share price dropped 2.4% on Thursday . The stock traded as low as $1.99 and last traded at $2.00. Approximately 280,481 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 531,106 shares. The stock had previously closed at $2.05.

Analysts Set New Price Targets

Separately, Ventum Cap Mkts raised shares of High Tide to a “strong-buy” rating in a research note on Tuesday, July 16th.

Check Out Our Latest Report on High Tide

High Tide Trading Down 2.0 %

The company has a 50 day simple moving average of $1.94 and a two-hundred day simple moving average of $2.09. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 1.17. The company has a market cap of $157.67 million, a PE ratio of -6.13 and a beta of 0.47.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new position in shares of High Tide in the first quarter worth $32,000. Perritt Capital Management Inc. acquired a new position in High Tide in the first quarter worth approximately $132,000. Virtu Financial LLC acquired a new stake in High Tide in the first quarter valued at approximately $153,000. JW Asset Management LLC increased its stake 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 purchasing an additional 27,144 shares during the last quarter. Finally, Perritt Capital Management Inc increased its stake in shares of High Tide by 92.3% during the 2nd quarter. Perritt Capital Management Inc now owns 125,000 shares of the company’s stock worth $276,000 after purchasing an additional 60,000 shares during the last quarter. Institutional investors and hedge funds own 4.52% of the company’s stock.

About High Tide

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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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