High Tide Inc. (NASDAQ:HITI) saw an upside of 7.58% to $2.13 after adding $0.15 on Monday. The 5-day average trading volume is 545,481 shares of the company’s common stock. It has gained $2.3000 in the past week and touched a new high 5 times within the past 5 days. An average of 581,775 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 314,412.
HITI’s 1-month performance is 70.40% or $0.8801 on its low of $1.2500 reached on 08/29/23. The company’s shares have touched a 52-week low of $1.03 and high of $2.23, with the stock’s rally to the 52-week high happening on 09/25/23. YTD, HITI has achieved 38.31% or $0.5901 and has reached a new high 8 times. However, the current price is down -4.48% from the 52-week high price.
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Valuation Metrics
HITI stock has a beta of 0.87. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.45 while the price-to-book (PB) in the most recent quarter is 1.32, with the price to cash flow ratio at 14.87.
High Tide Inc.’s quick ratio for the period ended July 30 was 0.70, with the current ratio over the same period at 1.16. As well, the company’s long term debt to equity for the quarter ending July 30 was 0.23, while the total debt to equity was 0.44. In terms of profitability, the gross margin trailing 12 months is 7.00%. The trailing 12-month EBITDA margin is 2.82% while for the period ending July 30, High Tide Inc.’s operating margin was -1.73%. The firm’s gross profit as reported stood at $78.42 million against revenue of $277.2 million.
Earnings Surprise
For the quarterly period ending July 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected HITI to announce -$0.03 per share in earnings in its latest quarter, but it posted -$0.03, representing a 0.00% surprise. EBITDA for the quarter stood at more than $5.82 million. HITI stock balance sheet for the quarter ending July 30 shows that total liabilities totaled 77.08 million, with total debt at $69.62 million.
Let’s look briefly at High Tide Inc. (HITI) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 76.94% to suggest the stock is trending Overbought, with historical volatility in this time period at 103.05%.
The stock’s 5-day moving average is $1.9220, reflecting a +19.00% or $0.3401 change from its current price. HITI is currently trading +70.41% above its 20-day SMA, +66.41% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +66.41% and SMA200 by+29.10%.
Stochastic %K and %D was 82.37% and 77.90% and the average true range (ATR) pointed at 0.1727. The RSI (14) points at 74.13%, while the 14-day stochastic is at 80.69% with the period’s ATR at 0.1516. The stock’s 9-day MACD Oscillator is pointing at 0.1134 and 0.2012 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for High Tide Inc. (NASDAQ: HITI), Cantor Fitzgerald launched coverage with a Neutral rating. Analysts offering their rating for HITI stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate HITI as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 6 have offered a “buy” rating.
What is HITI’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $2.75 and a high of $9.00, with their median price target at $4.50. Looking at these predictions, the average price target given by analysts is for High Tide Inc. (HITI) stock is $5.17.
