D. Boral Capital Initiates Coverage on High Tide (NASDAQ:HITI)

Equities research analysts at D. Boral Capital assumed coverage on shares of High Tide (NASDAQ:HITI) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $4.00 price target on the stock. D. Boral Capital’s price objective points to a potential upside of 86.05% from the stock’s current price.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of High Tide in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $5.62.

High Tide Price Performance

HITI stock opened at $2.15 on Wednesday. The company has a market cap of $188.92 million, a PE ratio of -6.94 and a beta of 0.59. The business has a 50-day simple moving average of $2.30 and a 200 day simple moving average of $2.39. High Tide has a 52 week low of $2.09 and a 52 week high of $4.06. The company has a quick ratio of 0.66, a current ratio of 1.46 and a debt-to-equity ratio of 0.89.

High Tide (NASDAQ:HITI) last announced its quarterly earnings data on Monday, June 15th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. High Tide had a negative net margin of 6.62% and a positive return on equity of 3.59%. The firm had revenue of $132.02 million for the quarter, compared to the consensus estimate of $125.93 million. Sell-side analysts anticipate that High Tide will post 0.03 EPS for the current fiscal year.

Institutional Trading of High Tide

Several large investors have recently bought and sold shares of HITI. HRT Financial LP acquired a new position in High Tide during the fourth quarter worth about $26,000. Osaic Holdings Inc. boosted its stake in shares of High Tide by 82,976.9% in the 2nd quarter. Osaic Holdings Inc. now owns 10,800 shares of the company’s stock valued at $25,000 after purchasing an additional 10,787 shares in the last quarter. Friday Financial acquired a new stake in shares of High Tide in the 2nd quarter valued at approximately $29,000. StoneX Group Inc. acquired a new position in High Tide during the 4th quarter worth approximately $41,000. Finally, Spark Investment Management LLC bought a new position in High Tide in the 4th quarter valued at approximately $43,000. 4.52% of the stock is owned by institutional investors and hedge funds.

High Tide Company Profile

High Tide Inc (NASDAQ: HITI) is an omnichannel retailer and branded consumer packaged goods company serving the regulated cannabis market. The company operates a network of licensed cannabis retail stores across Canada, offering a curated assortment of cannabis flower, pre-rolls, vapes and lifestyle accessories. In parallel, High Tide maintains an e-commerce platform that delivers hemp-derived products, vaporizers, glassware and other ancillary goods to consumers in multiple jurisdictions.

Within Canada, High Tide’s retail division includes banners such as Canna Cabana, Meta Cannabis Supply Co and The Hunny Pot, each designed to provide differentiated in-store experiences.