FY2024 EPS Estimates for High Tide Lifted by Atb Cap Markets

High Tide Inc. (NASDAQ:HITI) – Equities researchers at Atb Cap Markets raised their FY2024 earnings per share estimates for High Tide in a report issued on Tuesday, October 22nd. Atb Cap Markets analyst F. Gomes now anticipates that the company will post earnings of ($0.03) per share for the year, up from their prior estimate of ($0.04). The consensus estimate for High Tide’s current full-year earnings is ($0.01) per share. Atb Cap Markets also issued estimates for High Tide’s FY2025 earnings at $0.00 EPS, FY2026 earnings at $0.15 EPS and FY2027 earnings at $0.30 EPS.

Several other analysts have also recently commented on HITI. Roth Mkm reissued a “buy” rating and issued a $4.50 price target on shares of High Tide in a report on Wednesday, September 18th. Ventum Cap Mkts upgraded shares of High Tide to a “strong-buy” rating in a research report on Tuesday, July 16th.

High Tide Price Performance

Shares of NASDAQ:HITI opened at $2.95 on Friday. High Tide has a 52 week low of $1.14 and a 52 week high of $3.12. The company has a 50-day moving average price of $2.19 and a 200 day moving average price of $2.19. The company has a market cap of $237.32 million, a P/E ratio of -9.22 and a beta of 0.48. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.20.

High Tide (NASDAQ:HITI) last announced its quarterly earnings data on Monday, September 16th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. The company had revenue of $96.04 million for the quarter, compared to analysts’ expectations of $93.70 million. High Tide had a negative net margin of 6.14% and a positive return on equity of 2.06%. During the same period in the previous year, the company posted ($0.03) EPS.

Institutional Investors Weigh In On High Tide

Several institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd purchased a new stake in High Tide during the first quarter worth $32,000. Baader Bank Aktiengesellschaft grew its stake in High Tide by 25.9% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 251,741 shares of the company’s stock valued at $555,000 after acquiring an additional 51,741 shares during the last quarter. Perritt Capital Management Inc increased its holdings in High Tide by 92.3% during the 2nd quarter. Perritt Capital Management Inc now owns 125,000 shares of the company’s stock valued at $276,000 after acquiring an additional 60,000 shares in the last quarter. Perritt Capital Management Inc. acquired a new position in High Tide during the first quarter worth about $132,000. Finally, Virtu Financial LLC purchased a new stake in shares of High Tide in the first quarter valued at about $153,000. Hedge funds and other institutional investors own 4.52% of the company’s stock.

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.