Roth Capital Reiterates Buy Rating for High Tide (NASDAQ:HITI)

High Tide (NASDAQ:HITI - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Roth Capital in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $5.00 price target on the stock, up from their previous price target of $4.50. Roth Capital's price target indicates a potential upside of 123.61% from the company's previous close.High Tide Trading Down 0.6%NASDAQ:HITI traded down $0.01 during trading hours on Wednesday, reaching $2.24. 179,801 shares of the company were exchanged, compared to its average volume of 583,323. High Tide has a 52-week low of $1.57 and a 52-week high of $3.62. The stock has a 50 day simple moving average of $2.30 and a 200 day simple moving average of $2.57. The firm has a market cap of $181.21 million, a price-to-earnings ratio of -28.06 and a beta of 0.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.61 and a quick ratio of 0.95. High Tide (NASDAQ:HITI - Get Free Report) last announced its quarterly earnings results on Monday, June 16th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). High Tide had a negative net margin of 1.71% and a negative return on equity of 6.36%. The business had revenue of $99.86 million for the quarter, compared to analyst estimates of $138.50 million. As a group, analysts predict that High Tide will post -0.04 EPS for the current year. Hedge Funds Weigh In On High TideA number of institutional investors have recently added to or reduced their stakes in HITI. Arrowstreet Capital Limited Partnership acquired a new stake in shares of High Tide during the 4th quarter valued at approximately $1,605,000. Renaissance Technologies LLC boosted its holdings in shares of High Tide by 142.4% during the fourth quarter. Renaissance Technologies LLC now owns 839,600 shares of the company's stock valued at $2,594,000 after acquiring an additional 493,300 shares during the period. Hillsdale Investment Management Inc. grew its position in High Tide by 755.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 240,288 shares of the company's stock worth $738,000 after purchasing an additional 212,197 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of High Tide by 146.0% during the fourth quarter. Two Sigma Investments LP now owns 311,304 shares of the company's stock worth $962,000 after buying an additional 184,780 shares during the period. Finally, State of Wyoming bought a new position in High Tide in the 4th quarter worth approximately $481,000. Institutional investors and hedge funds own 4.52% of the company's stock. High Tide Company Profile (Get Free Report)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.See AlsoFive stocks we like better than High TideWhat is a Dividend Harvesting Strategy and How Can Investors Profit from it?Tesla Bulls and Bears Collide: What Investors Should KnowBest ESG Stocks: 11 Best Stocks for ESG InvestingSarepta Drops 42% on Fatalities; Markets Eye Solid BiosciencesUsing the MarketBeat Dividend Yield Calculator330% Returns YTD: Is CoreWeave's Momentum Softening?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in High Tide Right Now?Before you consider High Tide, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and High Tide wasn't on the list.While High Tide currently has a Strong Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here