AdvisorShares Investments LLC Decreases Stock Holdings in High Tide Inc. (NASDAQ:HITI)

AdvisorShares Investments LLC trimmed its position in shares of High Tide Inc. (NASDAQ:HITIFree Report) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,537,908 shares of the company’s stock after selling 20,434 shares during the period. AdvisorShares Investments LLC owned approximately 1.96% of High Tide worth $2,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, JW Asset Management LLC purchased a new stake in High Tide during the 3rd quarter valued at $139,000. Institutional investors and hedge funds own 4.52% of the company’s stock.

High Tide Stock Performance

Shares of HITI traded down $0.07 during midday trading on Friday, reaching $2.55. 542,087 shares of the stock were exchanged, compared to its average volume of 577,462. High Tide Inc. has a 52 week low of $1.14 and a 52 week high of $2.85. The company’s 50 day moving average is $2.31 and its two-hundred day moving average is $1.92. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.13 and a quick ratio of 0.69.

High Tide (NASDAQ:HITIGet Free Report) last issued its quarterly earnings data on Monday, March 18th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. High Tide had a negative return on equity of 2.03% and a negative net margin of 7.46%. The company had revenue of $94.76 million for the quarter, compared to the consensus estimate of $94.43 million. During the same quarter last year, the company earned ($0.05) earnings per share.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HITI. TheStreet upgraded High Tide from a “d” rating to a “c-” rating in a report on Friday, March 15th. Roth Mkm reaffirmed a “buy” rating and issued a $4.50 price objective on shares of High Tide in a research report on Monday, March 25th.

Check Out Our Latest Research Report on HITI

About High Tide

(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.

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Institutional Ownership by Quarter for High Tide (NASDAQ:HITI)

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