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

High Tide Inc. (NASDAQ:HITI) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 4,290,000 shares, an increase of 5.9% from the December 31st total of 4,050,000 shares. Approximately 5.9% of the shares of the stock are short sold. Based on an average daily volume of 798,100 shares, the days-to-cover ratio is presently 5.4 days.

High Tide Trading Up 6.1 %

Shares of HITI stock opened at $2.77 on Wednesday. High Tide has a fifty-two week low of $1.57 and a fifty-two week high of $3.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.40. The stock’s fifty day moving average is $3.10 and its two-hundred day moving average is $2.56. The firm has a market capitalization of $224.09 million, a P/E ratio of -92.33 and a beta of 0.46.

High Tide (NASDAQ:HITI) last posted its quarterly earnings results on Wednesday, January 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). High Tide had a negative return on equity of 2.93% and a negative net margin of 0.81%.

Analysts Set New Price Targets

Separately, Roth Capital raised shares of High Tide to a “strong-buy” rating in a research note on Friday, November 8th.

Institutional Investors Weigh In On High Tide

Large investors have recently made changes to their positions in the stock. Benin Management CORP grew its holdings in High Tide by 100.0% in the 4th quarter. Benin Management CORP now owns 20,000 shares of the company’s stock valued at $62,000 after buying an additional 10,000 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of High Tide by 58.8% in the third quarter. Jane Street Group LLC now owns 35,252 shares of the company’s stock valued at $72,000 after purchasing an additional 13,052 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new stake in High Tide during the fourth quarter worth about $451,000. 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.