High Tide (NASDAQ:HITI) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

High Tide (NASDAQ:HITI) issued its earnings results on Monday. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01), Zacks reports. High Tide had a negative net margin of 0.81% and a negative return on equity of 2.93%.

High Tide Trading Down 2.6%

High Tide stock traded down $0.06 during mid-day trading on Monday, hitting $2.22. 528,349 shares of the company’s stock were exchanged, compared to its average volume of 584,673. The company’s 50 day simple moving average is $2.28 and its 200-day simple moving average is $2.58. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $179.90 million, a P/E ratio of -74.00 and a beta of 0.52. High Tide has a fifty-two week low of $1.57 and a fifty-two week high of $3.62.

Institutional Investors Weigh In On High Tide

An institutional investor recently bought a new position in High Tide stock. Bank of America Corp DE purchased a new stake in High Tide Inc. (NASDAQ:HITI) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 23,200 shares of the company’s stock, valued at approximately $72,000. 4.52% of the stock is currently owned by hedge funds and other institutional investors.

High Tide Company 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.