High Tide (NASDAQ:HITI) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

High Tide (NASDAQ:HITI) announced its earnings results on Monday. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03, Zacks reports. High Tide had a negative net margin of 7.07% and a negative return on equity of 1.06%. The firm had revenue of $96.04 million for the quarter, compared to analyst estimates of $93.70 million. During the same quarter in the previous year, the firm posted ($0.03) EPS.

High Tide Stock Down 1.9 %

HITI stock traded down $0.04 during midday trading on Wednesday, hitting $2.10. The company’s stock had a trading volume of 599,630 shares, compared to its average volume of 538,705. The firm’s 50-day moving average is $1.95 and its 200-day moving average is $2.11. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 0.21. High Tide has a 12 month low of $1.14 and a 12 month high of $2.85. The company has a market cap of $168.94 million, a PE ratio of -6.69 and a beta of 0.47.

Analysts Set New Price Targets

Several analysts have commented on HITI shares. Ventum Cap Mkts upgraded shares of High Tide to a “strong-buy” rating in a report on Tuesday, July 16th. Roth Mkm restated a “buy” rating and issued a $4.50 target price on shares of High Tide in a research note on Wednesday.

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.