High Tide Inc. (NASDAQ:HITI) shares, rose in value on Thursday, April 04, with the stock price up by 3.45% to the previous day’s close as strong demand from buyers drove the stock to $2.70.
Actively observing the price movement in the recent trading, the stock is buoying the session at $2.61. The value of beta (5-year monthly) is 1.06. Referring to stock’s 52-week performance, its high was $2.69, and the low was $1.14. On the whole, HITI has fluctuated by 57.89% over the past month.
With the market capitalization of High Tide Inc. currently standing at about $203.31 million, investors are eagerly awaiting this quarter’s results, scheduled for Jun 12, 2024 – Jun 17, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.01, which is expected to increase to $0.01 for fiscal year -$0.02 and then to about $0.13 by fiscal year 2025. Data indicates that the EPS growth is expected to be 60.00% in 2025, while the next year’s EPS growth is forecast to be 750.00%.
Analysts have estimated the company’s revenue for the quarter at $94.06 million, with a low estimate of $93.77 million and a high estimate of $94.28 million. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $387.08 million, representing an increase of 7.70% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that HITI’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of HITI currently trading nearly 45.93% and 48.25% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 81.61, while the 7-day volatility ratio is showing 12.32% which for the 30-day chart, stands at 7.04%. Furthermore, High Tide Inc. (HITI)’s beta value is 0.86, and its average true range (ATR) is 0.16.
A comparison of High Tide Inc. (HITI) with its peers suggests the former has fared considerably weaker in the market. HITI showed an intraday change of 3.45% in today’s session so far, and over the past year, it grew by 101.49%%.
Data on historical trading for High Tide Inc. (NASDAQ:HITI) indicates that the trading volumes over the past 10 days have averaged 1.01 million and over the past 3 months, they’ve averaged 406.37K. According to company’s latest data on outstanding shares, there are 75.30 million shares outstanding.
Nearly 9.73% of High Tide Inc.’s shares belong to company insiders and institutional investors own 8.28% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.3 million shares as on Mar 15, 2024, resulting in a short ratio of 12.33. According to the data, the short interest in High Tide Inc. (HITI) stood at 4.20% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 3.0 million. The stock has risen by 65.64% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the HITI stock heading into the next quarter.
