High Tide (NASDAQ:HITI) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

High Tide (NASDAQ:HITI) announced its earnings results on Monday. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.03, Zacks reports. The company had revenue of $96.04 million for the quarter, compared to analysts’ expectations of $93.70 million. High Tide had a negative return on equity of 1.06% and a negative net margin of 7.07%. During the same quarter in the prior year, the business earned ($0.03) earnings per share.

High Tide Trading Down 1.4 %

High Tide stock traded down $0.03 during mid-day trading on Wednesday, hitting $2.11. The stock had a trading volume of 620,734 shares, compared to its average volume of 538,824. The stock has a 50-day simple moving average of $1.95 and a two-hundred day simple moving average of $2.11. The stock has a market capitalization of $169.74 million, a PE ratio of -6.59 and a beta of 0.47. High Tide has a 12 month low of $1.14 and a 12 month high of $2.85. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 0.21.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Roth Mkm restated a “buy” rating and set a $4.50 target price on shares of High Tide in a report on Wednesday. Ventum Cap Mkts upgraded High Tide to a “strong-buy” rating in a report on Tuesday, July 16th.

About High Tide

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.