High Tide (NASDAQ:HITI) Announces Quarterly Earnings Results

High Tide (NASDAQ:HITI) announced its quarterly earnings data on Monday. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01), Zacks reports. The company had revenue of $100.25 million for 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 Price Performance

Shares of HITI opened at $2.32 on Tuesday. The firm has a market capitalization of $187.32 million, a PE ratio of -77.17 and a beta of 0.48. 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 has a 1-year low of $1.57 and a 1-year high of $3.62. The company’s fifty day moving average price is $2.72 and its 200-day moving average price is $2.69.

Institutional Investors Weigh In On High Tide

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

About High Tide

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.