High Tide Inc (NASDAQ:HITI) price on Wednesday, November 13, rose 1.49% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $2.73.
A look at the stock’s price movement, the close in the last trading session was $2.69, moving within a range at $2.625 and $2.82. The beta value (5-Year monthly) was 0.996. Turning to its 52-week performance, $3.12 and $1.14 were the 52-week high and 52-week low respectively. Overall, HITI moved 16.17% over the past month.
High Tide Inc’s market cap currently stands at around $303.76 million, with investors looking forward to this quarter’s earnings report slated for in December.
Analysts have a consensus estimate of 97.27M for the company’s revenue for the quarter, with a low and high estimate of 96.77M and 97.78M respectively. The average forecast suggests up to a 5.60% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 373.39M, representing a 5.70% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that HITI is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
1 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 0 recommend HITI as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Sell which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
HITI’s current price about -3.16% and 12.37% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 53.40, while 7-day volatility ratio is 7.25% and 7.19% in the 30-day chart. Further, High Tide Inc (HITI) has a beta value of 0.75, and an average true range (ATR) of 0.19. Analysts have given the company’s stock an average 52-week price target of $2.7, forecast between a low of $2.7 and high of $2.7. Looking at the price targets, the low is 1.1% off current price level while to achieve the yearly target high, price needs to move 1.1%. Nonetheless, investors will most likely welcome a 1.1% jump to $2.7 which is the analysts’ median price.
If we refocus on High Tide Inc (NASDAQ:HITI), historical trading data shows that trading volumes averaged 0.96 over the past 10 days and 654.92K over the past 3 months. The company’s latest data on shares outstanding shows there are 75.30 million shares.
The 9.19% of High Tide Inc’s shares are in the hands of company insiders while institutional holders own 7.10% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 4.24 million on 2024-10-31, giving us a short ratio of 5.6. Current price change has pushed the stock 67.48% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the HITI stock continues to rise going into the next quarter.
