High Tide (NASDAQ:HITI) Releases Earnings Results

High Tide (NASDAQ:HITI) announced its quarterly earnings results on Monday. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01), Zacks reports. The business 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 Stock Down 4.7 %

High Tide stock opened at $2.32 on Tuesday. The stock has a market capitalization of $187.32 million, a PE ratio of -77.17 and a beta of 0.48. High Tide has a 12 month low of $1.57 and a 12 month high of $3.62. The business has a 50 day simple moving average of $2.72 and a 200-day simple moving average of $2.69. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.40 and a quick ratio of 0.92.

Institutional Trading of High Tide

An institutional investor recently bought a new position in High Tide stock. Bank of America Corp DE acquired a new stake in High Tide Inc. (NASDAQ:HITI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 23,200 shares of the company’s stock, valued at approximately $72,000. 4.52% of the stock is currently owned by hedge funds and other institutional investors.

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.