Atb Cap Markets Equities Analysts Raise Earnings Estimates for High Tide Inc. (NASDAQ:HITI)


High Tide Inc. (NASDAQ:HITIFree Report) – Stock analysts at Atb Cap Markets increased their Q3 2024 earnings per share estimates for shares of High Tide in a report released on Monday, March 18th. Atb Cap Markets analyst F. Gomes now anticipates that the company will earn ($0.02) per share for the quarter, up from their previous forecast of ($0.03). The consensus estimate for High Tide’s current full-year earnings is ($0.06) per share. Atb Cap Markets also issued estimates for High Tide’s FY2024 earnings at ($0.07) EPS and FY2025 earnings at $0.12 EPS.

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

Separately, TheStreet raised High Tide from a “d” rating to a “c-” rating in a report on Friday, March 15th.

Read Our Latest Stock Analysis on High Tide

High Tide Stock Performance

Shares of NASDAQ HITI opened at $1.78 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.73 and a current ratio of 1.13. The firm has a market cap of $140.48 million, a price-to-earnings ratio of -5.39 and a beta of 0.49. The business’s 50-day simple moving average is $1.78 and its 200-day simple moving average is $1.66. High Tide has a 52 week low of $1.07 and a 52 week high of $2.30.

Institutional Trading of High Tide

Several hedge funds have recently added to or reduced their stakes in HITI. Citigroup Inc. bought a new stake in shares of High Tide in the 1st quarter worth approximately $53,000. Royal Bank of Canada lifted its position in shares of High Tide by 162.9% in the 1st quarter. Royal Bank of Canada now owns 18,961 shares of the company’s stock worth $86,000 after acquiring an additional 11,748 shares during the period. Renaissance Technologies LLC bought a new stake in shares of High Tide in the 2nd quarter worth approximately $29,000. Millennium Management LLC bought a new stake in shares of High Tide in the 2nd quarter worth approximately $80,000. Finally, Jane Street Group LLC lifted its position in shares of High Tide by 279.7% in the 1st quarter. Jane Street Group LLC now owns 53,384 shares of the company’s stock worth $72,000 after acquiring an additional 39,324 shares during the period. Institutional investors own 3.12% 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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Earnings History and Estimates for High Tide (NASDAQ:HITI)



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