Roth Capital assumed coverage on shares of High Tide (NASDAQ:HITI) in a research note published on Monday, PriceTargets.com reports. The brokerage issued a buy rating and a $12.00 price objective on the stock.
Separately, Desjardins assumed coverage on High Tide in a research report on Thursday, September 2nd. They set a buy rating and a $15.00 target price on the stock.
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Shares of NASDAQ HITI opened at $7.70 on Monday. The firm’s fifty day moving average price is $6.89. High Tide has a 1-year low of $1.67 and a 1-year high of $13.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.03.
High Tide (NASDAQ:HITI) last announced its quarterly earnings data on Monday, June 28th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). High Tide had a negative return on equity of 37.66% and a negative net margin of 21.16%. The business had revenue of $32.46 million during the quarter. Analysts anticipate that High Tide will post 0.09 earnings per share for the current year.
Several hedge funds have recently modified their holdings of the stock. Morgan Stanley purchased a new stake in shares of High Tide in the second quarter worth $69,000. Royal Bank of Canada purchased a new stake in High Tide during the second quarter valued at about $38,000. Geode Capital Management LLC purchased a new stake in High Tide during the second quarter valued at about $369,000. Bank of Montreal Can purchased a new stake in High Tide during the second quarter valued at about $132,000. Finally, CIBC World Markets Inc. purchased a new stake in High Tide during the second quarter valued at about $152,000.
High Tide Company Profile
High Tide Inc operates as a vertically-integrated company in the cannabis market in Canada, the United States, and internationally. It engages in the design, manufacture, and distribution of smoking accessories and cannabis lifestyle products. It is also involved in the wholesale and retailing of cannabis products, as well as operates and franchises licensed retail cannabis stores.
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