In the latest trading session, 0.46 million High Tide Inc (NASDAQ:HITI) shares changed hands as the company’s beta touched 0.60. With the company’s most recent per share price at $2.16 changed hands at -$0.27 or -11.11% at last look, the market valuation stands at $174.74M. HITI’s current price is a discount, trading about -67.59% off its 52-week high of $3.62. The share price had its 52-week low at $1.57, which suggests the last value was 27.31% up since then. When we look at High Tide Inc’s average trading volume, we note the 10-day average is 0.55 million shares, with the 3-month average coming to 665.22K.
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.
High Tide Inc (NASDAQ:HITI) trade information
Instantly HITI was in red as seen in intraday trades today. With action -6.09%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -30.10%, with the 5-day performance at -6.09% in the red. However, in the 30-day time frame, High Tide Inc (NASDAQ:HITI) is -18.18% down. Looking at the short shares, we see there were 4.04 million shares sold at short interest cover period of 6.13 days.
The consensus price target for the stock as assigned by Wall Street analysts is 2.7, meaning bulls need an upside of 20.0% from its recent 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 -25.0% plunge from its current level, while the stock would need to soar -25.0% for it to hit the projected low.
High Tide Inc (HITI) estimates and forecasts
Year-over-year growth is forecast to reach 13.87% up from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of 145.9M. 3 analysts are of the opinion that High Tide Inc’s revenue for the current quarter will be 153.43M. The company’s revenue for the corresponding quarters a year ago was 124.26M and 131.69M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 17.42%. The estimates for the next quarter sales put growth at 16.52%.
High Tide Inc (NASDAQ:HITI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 14.13% of High Tide Inc shares while 10.13% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 11.80%. There are 10.13% institutions holding the High Tide Inc stock share, with ADVISORSHARES INVESTMENTS LLC the top institutional holder. As of 2024-06-30, the company held 2.2749% 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.
Among Mutual Funds, the top two as of Dec 31, 2024 were Amplify ETF Tr-Amplify Alternative Harvest ETF and AdvisorShares Trust-AdvisorShares Pure Cannabis ETF. With 1.78 shares estimated at $3.85 million under it, the former controlled 2.20% of total outstanding shares. On the other hand, AdvisorShares Trust-AdvisorShares Pure Cannabis ETF held about 1.79% of the shares, roughly 1.44 shares worth around $3.13 million.
