FY2024 EPS Estimates for High Tide Raised by Atb Cap Markets

High Tide Inc. (NASDAQ:HITI) – Equities researchers at Atb Cap Markets boosted their FY2024 earnings estimates for shares of High Tide in a research report issued on Tuesday, October 22nd. Atb Cap Markets analyst F. Gomes now expects that the company will earn ($0.03) per share for the year, up from their prior estimate of ($0.04). The consensus estimate for High Tide’s current full-year earnings is ($0.01) per share. Atb Cap Markets also issued estimates for High Tide’s FY2025 earnings at $0.00 EPS, FY2026 earnings at $0.15 EPS and FY2027 earnings at $0.30 EPS.

High Tide (NASDAQ:HITI) last issued its earnings results on Monday, September 16th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03. High Tide had a positive return on equity of 2.06% and a negative net margin of 6.14%. The company had revenue of $96.04 million during the quarter, compared to the consensus estimate of $93.70 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share.

A number of other research analysts have also recently commented on the stock. Ventum Cap Mkts raised shares of High Tide to a “strong-buy” rating in a research report on Tuesday, July 16th. Roth Mkm reissued a “buy” rating and issued a $4.50 price objective on shares of High Tide in a research report on Wednesday, September 18th.

High Tide Stock Up 2.4 %

NASDAQ HITI opened at $3.02 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. High Tide has a fifty-two week low of $1.14 and a fifty-two week high of $3.12. The business has a 50 day moving average price of $2.21 and a two-hundred day moving average price of $2.19. The stock has a market cap of $242.95 million, a PE ratio of -9.44 and a beta of 0.48.

Institutional Trading of High Tide

Several institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd bought a new position in High Tide during the 1st quarter worth approximately $32,000. Perritt Capital Management Inc. bought a new stake in High Tide during the first quarter valued at $132,000. Virtu Financial LLC acquired a new stake in shares of High Tide during the first quarter worth $153,000. Baader Bank Aktiengesellschaft lifted its position in shares of High Tide by 25.9% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 251,741 shares of the company’s stock worth $555,000 after buying an additional 51,741 shares during the last quarter. Finally, Perritt Capital Management Inc grew its position in shares of High Tide by 92.3% during the 2nd quarter. Perritt Capital Management Inc now owns 125,000 shares of the company’s stock valued at $276,000 after buying an additional 60,000 shares during the last quarter. 4.52% of the stock is owned by institutional investors and hedge funds.

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.