High Tide Inc (NASDAQ:HITI) price on Friday, January 17, rose 0.98% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $3.09.
A look at the stock’s price movement, the close in the last trading session was $3.06, moving within a range at $3.0699 and $3.16. The beta value (5-Year monthly) was 0.996. Turning to its 52-week performance, $3.62 and $1.57 were the 52-week high and 52-week low respectively. Overall, HITI moved -1.59% over the past month.
High Tide Inc’s market cap currently stands at around $249.30 million, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 135.05M for the company’s revenue for the quarter, with a low and high estimate of 134.6M and 135.5M respectively. The average forecast suggests up to a 6.25% 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 519.12M, representing a 6.45% 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 -1.20% and 1.81% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 48.76, while 7-day volatility ratio is 4.27% and 5.27% in the 30-day chart. Further, High Tide Inc (HITI) has a beta value of 0.85, and an average true range (ATR) of 0.16. 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 12.62% off current price level while to achieve the yearly target high, price needs to move 12.62%. Nonetheless, investors will most likely welcome a 12.62% 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 0.68 over the past 10 days and 818.83K over the past 3 months. The company’s latest data on shares outstanding shows there are 80.45 million shares.
The 9.03% of High Tide Inc’s shares are in the hands of company insiders while institutional holders own 6.78% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 4.05 million on 2024-12-31, giving us a short ratio of 5.8. Current price change has pushed the stock 0.00% 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.
