The stock of High Tide Inc (NASDAQ: HITI) has increased by 1.49 when compared to last closing price of 2.69. Despite this, the company has experienced a 2.63% gain in its stock price over the last five trading sessions. prnewswire.com reported 2024-11-13 that This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated August 31, 2023, to its short form base shelf prospectus dated August 3, 2023. CALGARY, AB, Nov. 13, 2024 /PRNewswire/ – High Tide Inc. (“High Tide” or the “Company”) (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that it has closed the Final Tranche (as defined herein) of its previously disclosed subordinated debt facility of $1,000 principal subordinate secured debentures of the Company (each, a “Debenture”) for aggregate gross proceeds of $15 million (the “Facility”) at a price of $900 per Debenture, pursuant to subscription agreements with arm’s length institutional credit providers (collectively, the “Lenders”).
Is It Worth Investing in High Tide Inc (NASDAQ: HITI) Right Now?
HITI has 36-month beta value of 0.75. Analysts have mixed views on the stock, 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 73.26M, and currently, short sellers hold a 5.39% ratio of that float. The average trading volume of HITI on November 14, 2024 was 654.92K shares.
HITI’s Market Performance
The stock of High Tide Inc (HITI) has seen a 2.63% increase in the past week, with a 16.17% rise in the past month, and a 40.00% gain in the past quarter. The volatility ratio for the week is 7.25%, and the volatility levels for the past 30 days are at 7.19% for HITI. The simple moving average for the past 20 days is -3.16% for HITI’s stock, with a 26.90% 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 12.37% 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 -12.50% of loss for the given period.
Volatility was left at 7.19%, however, over the last 30 days, the volatility rate increased by 7.25%, as shares surge +9.64% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +33.17% upper at present.
During the last 5 trading sessions, HITI rose by +2.63%, which changed the moving average for the period of 200-days by +46.77% in comparison to the 20-day moving average, which settled at $2.82. In addition, High Tide Inc saw 67.48% 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 0.16 points at debt to capital in total, while cash flow to debt ratio is standing at 1.27. The debt to equity ratio resting at 0.19. The interest coverage ratio of the stock is 0.98.
Currently, EBITDA for the company is -4.2 million with net debt to EBITDA at 12.17. When we switch over and look at the enterprise to sales, we see a ratio of 0.66. 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 put it simply, High Tide Inc (HITI) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating 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.
