High Tide Inc (NASDAQ:HITI) shares, rose in value on Friday, November 22, with the stock price down by -0.75% to the previous day’s close as strong demand from buyers drove the stock to $2.65.
Actively observing the price movement in the last trading, the stock closed the session at $2.67, falling within a range of $2.6 and $2.69. The value of beta (5-year monthly) was 0.996. Referring to stock’s 52-week performance, its high was $3.12, and the low was $1.36. On the whole, HITI has fluctuated by -10.17% over the past month.
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With the market capitalization of High Tide Inc currently standing at about $297.07 million, investors are eagerly awaiting this quarter’s results, scheduled for in December.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 519.3M, with a low estimate of 134.6M and a high estimate of 136M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 135.32M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that HITI’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of HITI currently trading nearly -3.69% and 5.97% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.74, while the 7-day volatility ratio is showing 4.10% which for the 30-day chart, stands at 5.82%. Furthermore, High Tide Inc (HITI)’s beta value is 0.76, and its average true range (ATR) is 0.16.
A comparison of High Tide Inc (HITI) with its peers suggests the former has fared considerably weaker in the market. HITI showed an intraday change of -0.75% in last session, and over the past year, it grew by 76.67%%.
Data on historical trading for High Tide Inc (NASDAQ:HITI) indicates that the trading volumes over the past 10 days have averaged 0.8 and over the past 3 months, they’ve averaged 671.28K. According to company’s latest data on outstanding shares, there are 75.30 million shares outstanding.
Nearly 9.03% of High Tide Inc’s shares belong to company insiders and institutional investors own 6.87% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.24 million shares as on 2024-10-31, resulting in a short ratio of 5.6. The stock has risen by 62.58% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the HITI stock heading into the next quarter.
