High Tide (NASDAQ:HITI) Posts Earnings Results, Misses Estimates By $0.01 EPS

High Tide (NASDAQ:HITI) released its earnings results on Friday. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01), Zacks reports. The firm had revenue of $100.25 million during the quarter, compared to analysts’ expectations of $138.83 million. High Tide had a negative net margin of 0.81% and a negative return on equity of 2.93%.

High Tide Trading Up 0.9 %

HITI opened at $2.16 on Friday. The stock has a market cap of $174.78 million, a PE ratio of -72.00 and a beta of 0.48. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average of $2.64 and a 200-day moving average of $2.69. High Tide has a 52 week low of $1.57 and a 52 week high of $3.62.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in High Tide stock. Bank of America Corp DE acquired a new stake in shares of High Tide Inc. (NASDAQ:HITI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 23,200 shares of the company’s stock, valued at approximately $72,000. 4.52% of the stock is owned by institutional investors.

About High Tide

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.