High Tide Inc. (NASDAQ:HITI) Short Interest Update

High Tide Inc. (NASDAQ:HITI) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 5,250,000 shares, a growth of 8.9% from the May 31st total of 4,820,000 shares. Based on an average daily volume of 824,600 shares, the short-interest ratio is currently 6.4 days.

Analyst Ratings Changes

HITI has been the subject of a number of recent analyst reports. TheStreet upgraded shares of High Tide from a “d” rating to a “c-” rating in a research report on Friday, March 15th. Roth Mkm reiterated a “buy” rating and issued a $4.50 target price on shares of High Tide in a research report on Monday, March 25th.

High Tide Price Performance

High Tide stock opened at $2.15 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.17 and a quick ratio of 0.72. The firm has a fifty day simple moving average of $2.33 and a two-hundred day simple moving average of $2.03. High Tide has a twelve month low of $1.14 and a twelve month high of $2.85.

Institutional Trading of High Tide

Hedge funds have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. bought a new position in shares of High Tide during the fourth quarter valued at about $1,134,000. Virtu Financial LLC purchased a new stake in High Tide in the first quarter worth about $153,000. Perritt Capital Management Inc. purchased a new stake in High Tide in the first quarter worth about $132,000. JW Asset Management LLC grew its holdings in High Tide by 36.2% in the fourth quarter. JW Asset Management LLC now owns 102,144 shares of the company’s stock worth $166,000 after purchasing an additional 27,144 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of High Tide during the first quarter valued at approximately $32,000. 4.52% of the stock is owned by institutional investors.

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.