High Tide (NASDAQ:HITI) Posts Earnings Results, Misses Estimates By $0.01 EPS

High Tide (NASDAQ:HITI) announced its quarterly earnings results on Monday. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01), Zacks reports. High Tide had a negative net margin of 0.81% and a negative return on equity of 2.93%.

High Tide Stock Performance

Shares of HITI traded up $0.07 during midday trading on Monday, reaching $2.43. 684,410 shares of the stock were exchanged, compared to its average volume of 681,660. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 0.27. High Tide has a twelve month low of $1.57 and a twelve month high of $3.62. The company has a market cap of $196.63 million, a P/E ratio of -81.00 and a beta of 0.48. The stock’s 50 day simple moving average is $2.74 and its 200 day simple moving average is $2.69.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in High Tide stock. Bank of America Corp DE purchased a new position in High Tide Inc. (NASDAQ:HITI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,200 shares of the company’s stock, valued at approximately $72,000. 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.