High Tide Inc. (NASDAQ:HITI) Shares Bought by Two Sigma Investments LP

Two Sigma Investments LP boosted its stake in shares of High Tide Inc. (NASDAQ:HITI) by 146.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 311,304 shares of the company’s stock after purchasing an additional 184,780 shares during the quarter. Two Sigma Investments LP’s holdings in High Tide were worth $962,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Renaissance Technologies LLC lifted its stake in shares of High Tide by 142.4% in the 4th quarter. Renaissance Technologies LLC now owns 839,600 shares of the company’s stock valued at $2,594,000 after purchasing an additional 493,300 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in High Tide during the 4th quarter worth about $1,605,000. Hillsdale Investment Management Inc. lifted its stake in High Tide by 755.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 240,288 shares of the company’s stock worth $738,000 after acquiring an additional 212,197 shares in the last quarter. State of Wyoming acquired a new position in High Tide during the 4th quarter worth about $481,000. Finally, Jane Street Group LLC lifted its stake in High Tide by 50.6% during the 4th quarter. Jane Street Group LLC now owns 53,089 shares of the company’s stock worth $163,000 after acquiring an additional 17,837 shares in the last quarter. Institutional investors and hedge funds own 4.52% of the company’s stock.

High Tide Price Performance

HITI opened at $2.38 on Friday. The stock’s 50-day moving average price is $2.23 and its 200 day moving average price is $2.60. High Tide Inc. has a 12-month low of $1.57 and a 12-month high of $3.62. The company has a current ratio of 1.40, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The firm has a market cap of $192.87 million, a price-to-earnings ratio of -79.33 and a beta of 0.52.

High Tide (NASDAQ:HITI) last posted its earnings results on Friday, March 21st. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). High Tide had a negative return on equity of 2.93% and a negative net margin of 0.81%. The firm had revenue of $100.25 million for the quarter, compared to analyst estimates of $138.83 million. As a group, sell-side analysts expect that High Tide Inc. will post -0.04 earnings per share for the current year.

High Tide 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.