High Tide Inc. (NASDAQ: HITI)’s stock price has increased by 7.80 compared to its previous closing price of 2.05. However, the company has seen a 9.41% increase in its stock price over the last five trading sessions. seekingalpha.com reported 2024-09-30 that High Tide is far outperforming its cannabis industry peers with rapid revenue growth, profitability, and a strong balance sheet, yet trades at a discount. Most peers are losing money and have a negative tangible net worth. The company benefits from industry consolidation, superior store performance, and strategic acquisitions, positioning it for continued growth and market share gains.
Is It Worth Investing in High Tide Inc. (NASDAQ: HITI) Right Now?
The stock has a 36-month beta value of 0.81. Opinions on the stock are mixed, with 1 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 73.23M, and at present, short sellers hold a 6.09% of that float. On October 02, 2024, the average trading volume of HITI was 453.79K shares.
HITI’s Market Performance
HITI stock saw an increase of 9.41% in the past week, with a monthly gain of 8.33% and a quarterly increase of 3.76%. The volatility ratio for the week is 5.77%, and the volatility levels for the last 30 days are 5.69% for High Tide Inc. (HITI). The simple moving average for the past 20 days is 5.89% for HITI’s stock, with a 9.94% simple moving average for the past 200 days.
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 12.22% 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 -22.46% of loss for the given period.
Volatility was left at 5.69%, however, over the last 30 days, the volatility rate increased by 5.77%, as shares surge +12.18% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +15.10% upper at present.
During the last 5 trading sessions, HITI rose by +9.41%, which changed the moving average for the period of 200-days by +39.87% in comparison to the 20-day moving average, which settled at $2.10. In addition, High Tide Inc. saw 35.58% 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:
- 0.02 for the present operating margin
- 0.14 for the gross margin
The net margin for High Tide Inc. stands at -0.06. The total capital return value is set at 0.06. Equity return is now at value -19.85, with -11.99 for asset returns.
Based on High Tide Inc. (HITI), the company’s capital structure generated 0.31 points at debt to capital in total, while cash flow to debt ratio is standing at 0.53. The debt to equity ratio resting at 0.46. The interest coverage ratio of the stock is 0.98.
Currently, EBITDA for the company is 30.05 million with net debt to EBITDA at 0.75. 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 193.83for trailing twelve months and the total asset turnover is 2.14. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.26.
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’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
