On September 19, 2023, High Tide Inc continues to draw attention in the market as it remains a subject of various research reports. This article analyzes the recent updates and provides insights into the company’s operations and stock performance.
In a research note released on August 2nd by Stifel Nicolaus, coverage was initiated for High Tide with a “buy” rating assigned to the company. Similarly, Roth Mkm reaffirmed a “buy” rating and set a price target of $4.50 per share in their research note issued on Monday.
High Tide Inc is primarily engaged in the cannabis retail business across multiple regions including Canada, Europe, the United States, and internationally. The company stands out for its manufacturing and distribution of smoking accessories and cannabis lifestyle products. Additionally, High Tide also operates in wholesale and retail segments for cannabis products while simultaneously owning and franchising licensed retail cannabis stores.
NASDAQ:HITI debuted on Tuesday at an opening price of $1.79 per share. The company maintains a favorable financial position with a debt-to-equity ratio of 0.15 indicating relatively low leverage. Moreover, High Tide possesses a quick ratio of 0.70 and a current ratio of 1.16 underlining its ability to meet short-term obligations efficiently.
Over the past year, High Tide experienced fluctuations in its stock value with a range between $1.03 (the lowest point) to $2.23 (the highest point). These observations exhibit varying investor sentiment towards the company during different periods.
Examining the recent trend, High Tide currently holds a fifty-day moving average price of $1.36 while maintaining a 200-day moving average price of $1.30 per share. These figures provide investors with an overview of the stock’s performance over these specific time intervals.
As we move further into 2023, it will be interesting to observe how High Tide Inc maneuvers within the dynamic cannabis retail industry. With its focus on smoking accessories, cannabis lifestyle products, and both wholesale and retail operations, High Tide’s business model appears diversified. This diversification may potentially aid the company in navigating regulatory changes and market fluctuations, enabling it to capitalize on emerging opportunities.
Investors and industry analysts remain keen on tracking the growth trajectory of High Tide Inc. As new developments unfold, it is imperative for market participants to conduct thorough research and analysis before making any investment decisions based on various research reports and information available in the public domain.
Petróleo Brasileiro S.A. - Petrobras
PBR
Buy
Updated on: 19/09/2023
Financial Health
Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Buy
Price to book ratio: Buy
DCF: Strong Buy
ROE: Buy
Earnings Estimates and Ownership Distribution: High Tide Inc. (NASDAQ:HITI) in the Cannabis Retail Business
High Tide Inc. (NASDAQ:HITI), a prominent cannabis retail business operating in Canada, Europe, the United States, and internationally, has recently had its Q4 2024 earnings per share (EPS) estimates released by research analysts at Atb Cap Markets. According to analyst F. Gomes, the projection for the quarter is that the company will earn ($0.01) per share. As for the current full-year earnings estimate for High Tide, it stands at ($0.12) per share.
Furthermore, Atb Cap Markets has also provided estimates for High Tide’s future earnings. These include $0.01 EPS for FY2025, $0.13 EPS for FY2026, and $0.27 EPS for FY2027.
High Tide engages in various aspects of the cannabis industry, ranging from manufacturing and distributing smoking accessories and cannabis lifestyle products to wholesale and retailing of cannabis products. Additionally, it operates and franchises licensed retail cannabis stores.
In terms of recent financial performance, High Tide announced its quarterly earnings data on Friday, September 15th. The company reported an EPS of ($0.03) for the quarter, surpassing the consensus estimate of ($0.04) by $0.01. Moreover, during the quarter, High Tide generated $93.17 million in revenue compared to analyst predictions of $89.14 million.
It is worth noting that High Tide experienced a negative return on equity of 8.23% and a negative net margin of 13.23%. In the corresponding period last year, the company posted an EPS of ($0.03).
As for ownership distribution within institutional investors, there have been recent transactions involving HITI shares.
Citigroup Inc., for example purchased a new stake in High Tide during the first quarter valued at $53,000.
Similarly,Royal Bank of Canada increased its position in HITI shares by 162.9% during the same quarter, now owning 18,961 shares worth $86,000.
Millennium Management LLC was another institutional investor that joined in the buying spree by purchasing a new position in High Tide during the second quarter valued at around $80,000.
Jane Street Group LLC witnessed substantial growth in their HITI shares position of 149.6% during the second quarter. They now own 88,220 shares valued at $179,000.
Lastly, AdvisorShares Investments LLC also saw their position grow by 55.2% in High Tide shares during Q1. The company owns a significant sum of approximately 1,344,062 shares valued at $1,835,000.
Overall, hedge funds and other institutional investors account for approximately 3.12% of High Tide’s stock ownership.
In conclusion, as High Tide continues its cannabis retail business across several territories and releases promising earnings per share estimates for upcoming quarters and years ahead, investors and industry analysts will be closely monitoring its performance to gauge potential opportunities and risks within this thriving sector.
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