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

Northwest & Ethical Investments L.P. increased its stake in shares of High Tide Inc. (NASDAQ:HITI) by 1,026.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,378 shares of the company’s stock after purchasing 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 SEC filing.

Other hedge funds have also recently modified their holdings of the company. Benin Management CORP raised its position in High Tide by 100.0% during the 4th quarter. Benin Management CORP now owns 20,000 shares of the company’s stock worth $62,000 after buying an additional 10,000 shares during the last quarter. Jane Street Group LLC lifted its position in High Tide by 58.8% in the third quarter. Jane Street Group LLC now owns 35,252 shares of the company’s stock valued at $72,000 after purchasing an additional 13,052 shares during the period. SBI Securities Co. Ltd. purchased a new stake in High Tide in the 4th quarter valued at approximately $146,000. Finally, Chicago Partners Investment Group LLC acquired a new position in High Tide during the 4th quarter worth approximately $451,000. 4.52% of the stock is owned by institutional investors and hedge funds.

High Tide Stock Up 0.9 %

HITI opened at $2.16 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.40 and a quick ratio of 0.92. High Tide Inc. has a 12 month low of $1.57 and a 12 month high of $3.62. The stock has a market capitalization of $174.78 million, a P/E ratio of -72.00 and a beta of 0.48. The business has a 50 day simple moving average of $2.64 and a 200-day simple moving average of $2.69.

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