High Tide Inc. (HITI): The long term indicators on the stock call for a Buy today

High Tide Inc. (HITI) saw an uptrend of 13.27% in the recent trading with $2.22 being its most recent. The current price level -3.48% lower than the highest price of $2.30 marked by the stock while trading over the past 52-weeks, whereas it is 94.74% higher than the lowest price of $1.14 the company dropped to over past 52-weeks. The latest news story on HITI appeared in (Zacks) under the title “High Tide (HITI) Moves to Strong Buy: Rationale Behind the Upgrade”.

Squeezing the time span to 30 day period shows us the stock is currently trading -2.20% below one month high and is +40.95% above of the lowest during that time. Looking into the simple moving average, High Tide Inc. (HITI)’s stock stands at a SMA-50 of $1.8100 while that of 5-day is reading $2.0500.

Daily rise and fall of price influence many of the traders, and in order to overcome the fluctuating effect of that and to watch the stock closely, traders focus more on stock’s 200-day moving average. At various points in trading activity, investors are more likely to be making use of that measure as a strong indicator in figuring out their support and resistance levels, and HITI’s SMA-200 as of now is $1.5600.

High Tide Inc. Earnings – What Happened With HITI

Coming around sales and income figures on HITI Stock Income Statement, public trading companies under normal circumstances post earnings and revenues near to average estimates by the Wall Street analysts, but those could came either above or below estimates and known as surprise factor. High Tide Inc. (HITI) last released financial results for the quarter that ended 1/30/2024, posting a surprise factor of 100.00% for net revenue.

HITI – High Tide Inc. Stock Earnings Estimates

The perspective of High Tide Inc. (NASDAQ:HITI)’s current quarter earnings identifies that analysts are in consensus over the estimate of -0.01 for stock’s EPS in the current quarter. 3 analysts covering the stock at Wall Street were agreed upon that EPS consensus. Company’s EPS for the last quarter was 0.

Investors get the exact data about the key information of institutional ownership in a listed company through its 13F filings at the Stock Exchange Commission (SEC). The total number of common shares currently owned by the public is 75.30 million. HITI does have institutional investors; and they hold 8.28% of the stock.

High Tide Inc. – Insider Activity and Holdings

As on Mar 30, 2023, ETF Managers Group, LLC was the top most holder in High Tide Inc. (NASDAQ:HITI) with an ownership of 1.79 million shares of the company or 2.38% of the stake worth $2.44 million. The filing also reveals CVA Family Office, LLC as the second largest holder in the company with a control over 2.08% of the outstanding shares. Its stake is worth $2.9 million for having 1.57 million shares in hand.

AdvisorShares Investments, LLC also came holding a key position in the company during the recent quarter and it now holds 1.83% of the outstanding shares. With this there are now 33 institutions which have possession in HITI’s shares.

The liquidity is a key characteristic of any stock and is the main point of focus of both short-term as well as long term investors before start trading into a stock. In recently reported quarter, High Tide Inc. has a debt to equity ratio of 0.47.

Technical Analysis of High Tide Inc. (NASDAQ:HITI) stock

To comprehend better with the trade moves and investors’ behavior, exploring the short, medium and long term technical indicators along with average volume of a stock is an effective way to make use of. When looking into those indicators for High Tide Inc. (HITI), we notice that the stock’s 20-day average volume is at 518,330 shares and 75% of short term indicators are suggesting the stock as Buy. Medium term indicators at an average of 100% are spotting the stock at Buy with its 50-day average volume of 380,060 shares. And to end, HITI’s 100-day average volume is 306,389 shares with 100% of the long-term indicators pointing towards Buy for the stock.