Northwest & Ethical Investments L.P. Grows Stock Position in High Tide Inc. (NASDAQ:HITI)

Northwest & Ethical Investments L.P. raised its holdings in shares of High Tide Inc. (NASDAQ:HITI) by 1,026.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,378 shares of the company’s stock after acquiring an additional 20,391 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in High Tide were worth $69,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HITI. SBI Securities Co. Ltd. purchased a new position in shares of High Tide during the 4th quarter worth approximately $146,000. Chicago Partners Investment Group LLC acquired a new stake in High Tide during the 4th quarter valued at $451,000. Benin Management CORP increased its position in High Tide by 100.0% during the fourth quarter. Benin Management CORP now owns 20,000 shares of the company’s stock worth $62,000 after buying an additional 10,000 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of High Tide by 58.8% in the third quarter. Jane Street Group LLC now owns 35,252 shares of the company’s stock worth $72,000 after acquiring an additional 13,052 shares during the last quarter. Institutional investors and hedge funds own 4.52% of the company’s stock.

High Tide Stock Up 0.9 %

HITI opened at $2.16 on Friday. The firm has a market cap of $174.78 million, a P/E ratio of -72.00 and a beta of 0.48. The business’s fifty day simple moving average is $2.64 and its 200 day simple moving average is $2.69. High Tide Inc. has a 52 week low of $1.57 and a 52 week high of $3.62. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 0.27.

High Tide (NASDAQ:HITI) last released its quarterly earnings results on Friday, March 21st. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The firm had revenue of $100.25 million for the quarter, compared to analyst estimates of $138.83 million. High Tide had a negative return on equity of 2.93% and a negative net margin of 0.81%. As a group, equities research analysts anticipate that High Tide Inc. will post -0.04 EPS for the current fiscal year.

High Tide Company Profile

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.