FY2024 EPS Estimates for High Tide Inc. (NASDAQ:HITI) Increased by Atb Cap Markets

High Tide Inc. (NASDAQ:HITI) – Analysts at Atb Cap Markets raised their FY2024 earnings estimates for High Tide in a note issued to investors on Wednesday, September 18th. Atb Cap Markets analyst F. Gomes now forecasts that the company will earn ($0.04) per share for the year, up from their prior forecast of ($0.05). The consensus estimate for High Tide’s current full-year earnings is ($0.03) per share. Atb Cap Markets also issued estimates for High Tide’s Q4 2024 earnings at ($0.04) EPS, FY2025 earnings at ($0.02) EPS, FY2026 earnings at $0.11 EPS, FY2027 earnings at $0.24 EPS and FY2028 earnings at $0.36 EPS.

A number of other brokerages also recently weighed in on HITI. Roth Mkm reaffirmed a “buy” rating and set a $4.50 price objective on shares of High Tide in a research report on Wednesday, September 18th. Ventum Cap Mkts upgraded shares of High Tide to a “strong-buy” rating in a report on Tuesday, July 16th.

High Tide Stock Down 1.9 %

High Tide stock opened at $2.07 on Monday. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 0.21. The firm has a market cap of $166.52 million, a P/E ratio of -6.47 and a beta of 0.47. The business has a fifty day moving average of $1.96 and a two-hundred day moving average of $2.12. High Tide has a twelve month low of $1.14 and a twelve month high of $2.85.

High Tide (NASDAQ:HITI) last announced its quarterly 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 negative net margin of 7.07% and a negative return on equity of 1.06%. The firm had revenue of $96.04 million during the quarter, compared to analysts’ expectations of $93.70 million. During the same quarter in the prior year, the company earned ($0.03) EPS.

Institutional Inflows and Outflows

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