High Tide Inc. (HITI) Stock: Analyzing the Quarterly Movement

In the past week, HITI stock has gone up by 18.09%, with a monthly gain of 26.14% and a quarterly surge of 36.20%. The volatility ratio for the week is 10.04%, and the volatility levels for the last 30 days are 6.33% for High Tide Inc.. The simple moving average for the past 20 days is 24.81% for HITI’s stock, with a 42.67% simple moving average for the past 200 days.

Is It Worth Investing in High Tide Inc. (NASDAQ: HITI) Right Now?

The stock has a 36-month beta value of 0.90. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for HITI is 67.97M, and at present, short sellers hold a 4.85% of that float. On April 03, 2024, the average trading volume of HITI was 339.09K shares.

HITI) stock’s latest price update

High Tide Inc. (NASDAQ: HITI)’s stock price has gone rise by 13.27 in comparison to its previous close of 1.96, however, the company has experienced a 18.09% increase in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-02 that High Tide (HITI) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

Analysts’ Opinion of HITI

ROTH Capital, on the other hand, stated in their research note that they expect to see HITI reach a price target of $12. The rating they have provided for HITI stocks is “Buy” according to the report published on September 13th, 2021.

HITI Trading at 23.46% from the 50-Day Moving Average

After a stumble in the market that brought HITI to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -3.48% of loss for the given period.

Volatility was left at 6.33%, however, over the last 30 days, the volatility rate increased by 10.04%, as shares surge +31.36% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +20.00% upper at present.

During the last 5 trading sessions, HITI rose by +18.09%, which changed the moving average for the period of 200-days by +70.77% in comparison to the 20-day moving average, which settled at $1.8100. In addition, High Tide Inc. saw 36.20% in overturn over a single year, with a tendency to cut further gains.

Stock Fundamentals for HITI

Current profitability levels for the company are sitting at:

  • 0.01 for the present operating margin
  • 0.13 for the gross margin

The net margin for High Tide Inc. stands at -0.07. The total capital return value is set at 0.03. Equity return is now at value -23.63, with -13.97 for asset returns.

Based on High Tide Inc. (HITI), the company’s capital structure generated 0.21 points at debt to capital in total, while cash flow to debt ratio is standing at 0.73. The debt to equity ratio resting at 0.27. The interest coverage ratio of the stock is 0.36.

Currently, EBITDA for the company is 30.05 million with net debt to EBITDA at 1.02. When we switch over and look at the enterprise to sales, we see a ratio of 0.53. The receivables turnover for the company is 111.18for trailing twelve months and the total asset turnover is 2.19. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.13.

Conclusion

To sum up, High Tide Inc. (HITI) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.

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