A share price of High Tide Inc. [HITI] is currently trading at $2.52, down -1.95%. An important factor to consider is whether the stock is rising or falling in short-term value. The HITI shares have gain 24.14% over the last week, with a monthly amount glided 50.45%, and seem to be holding up well over a long-time horizon.
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On 4, April 2024, High Tide to Open Fifth Canna Cabana Store in Mississauga, Ontario. In a post published today on Yahoo Finance, Already the Second Largest Cannabis Retailer in North America by Store Count, The Company Now Becomes the Largest Cannabis Retailer in Canada’s Fastest Growing City.
From an analyst’s perspective:
Previously, ROTH Capital started tracking the stock with Buy rating on September 13, 2021, and set its price target to $12. On September 03, 2021, Desjardins initiated with a Buy rating.
High Tide Inc. experienced fluctuations in its stock price throughout the past year between $1.14 and $2.85. Currently, Wall Street analysts expect the stock to reach $2.7 within the next 12 months. High Tide Inc. [NASDAQ: HITI] shares were valued at $2.52 at the most recent close of the market. An investor can expect a potential return of 7.14% based on the average HITI price forecast.
Analyzing the HITI fundamentals
Trailing Twelve Months sales for High Tide Inc. [NASDAQ:HITI] were 368.72M which represents 8.16% growth. Gross Profit Margin for this corporation currently stands at 0.13% with Operating Profit Margin at 0.01%, Pretax Profit Margin comes in at -0.09%, and Net Profit Margin reading is -0.07%. To continue investigating profitability, this company’s Return on Assets is posted at -0.16, Equity is -0.24 and Total Capital is 0.03. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.27.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 2.36 points at the first support level, and at 2.20 for the second support level. However, for the 1st resistance point, the stock is sitting at 2.70, and for the 2nd resistance point, it is at 2.87.
High Tide Inc. [HITI] reported earnings per share of $0 for its fiscal quarter that ended on 1/30/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.01/share, meaning a difference of $0.01 and a surprise factor of 100.00%. By comparison, the stated earnings for the previous quarter ended on 10/30/2023 were $0.04 per share as compared to estimates of -$0.03 per share, a difference of $0.07 representing a surprise of 233.30%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for High Tide Inc. [NASDAQ:HITI] is 1.13. On the other hand, the Quick Ratio is 0.69, and the Cash Ratio is 0.5. Considering the valuation of this stock, the price to sales ratio is 0.51, the price to book ratio is 1.92.
