In the last trading session, 1.56 million High Tide Inc. (NASDAQ:HITI) shares changed hands as the company’s beta touched 0.82. With the company’s per share price at $2.92 changed hands at $0.02 or 0.69% during last session, the market valuation stood at $235.59M. HITI’s last price was a premium, traded about 0.68% off its 52-week high of $2.90. The share price had its 52-week low at $1.14, which suggests the last value was 60.96% up since then. When we look at High Tide Inc.’s average trading volume, we note the 10-day average is 0.67 million shares, with the 3-month average coming to 507.39K.
Analysts gave the High Tide Inc. (HITI) stock a consensus recommendation rating of Sell. If we narrow down to specifics, the data shows that 1 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended HITI as a Hold, 0 felt it is a Buy and 0 rated the stock as Underweight. High Tide Inc.’s EPS for the current quarter is expected to be -0.02.
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High Tide Inc. (NASDAQ:HITI) trade information
Instantly HITI was in green as seen at the end of in last trading. With action 24.26%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 79.14%, with the 5-day performance at 24.26% in the green. However, in the 30-day time frame, High Tide Inc. (NASDAQ:HITI) is 41.06% up. Looking at the short shares, we see there were 3.95 million shares sold at short interest cover period of 10.46 days.
The consensus price target for the stock as assigned by Wall Street analysts is 2.7, meaning bulls need a downside of -8.15% from its current market value. According to analyst projections, HITI’s forecast low is 2.7 with 2.7 as the target high. To hit the forecast high, the stock’s price needs a 7.53% surge from its current level, while the stock would need to tank 7.53% for it to hit the projected low.
High Tide Inc. (HITI) estimates and forecasts
Data shows that the High Tide Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 36.45% over the past 6 months, a 77.78% in annual growth rate that is considerably higher than the industry average of 11.60%. Year-over-year growth is forecast to reach 6.50% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of 98.04M. 2 analysts are of the opinion that High Tide Inc.’s revenue for the current quarter will be 101.04M. The company’s revenue for the corresponding quarters a year ago was 92.09M and 93.69M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 6.50%. The estimates for the next quarter sales put growth at 7.80%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -7.01%.
HITI Dividends
High Tide Inc. is expected to release its next quarterly earnings report in November.
High Tide Inc. (NASDAQ:HITI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 9.01% of High Tide Inc. shares while 10.42% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 11.45%. There are 10.42% institutions holding the High Tide Inc. stock share, with ADVISORSHARES INVESTMENTS LLC the top institutional holder. As of 2024-06-30, the company held 2.3157% of the shares, roughly 1.83 million HITI shares worth $3.93 million.
RENAISSANCE TECHNOLOGIES LLC holds the second largest percentage of outstanding shares, with 0.3635% or 0.29 million shares worth $0.63 million as of 2024-06-30.
