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New Big Money Means High Tide Inc. (HITI) Investors Could Reap Benefit

High Tide Inc. (NASDAQ: HITI) is 60.12% higher on its value in year-to-date trading and has touched a low of $1.14 and a high of $2.30 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The HITI stock was last observed hovering at around $2.22 in the last trading session, with the day’s gains setting it 0.39%.

Currently trading at $2.61, the stock is 44.58% and 44.56% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.34 million and changing 17.57% at the moment leaves the stock 67.24% off its SMA200. HITI registered 91.21% gain for a year compared to 6-month loss of 49.14%. The firm has a 50-day simple moving average (SMA 50) of $0.43 and a 200-day simple moving average (SMA200) of -$49.41.

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The stock witnessed a 54.44% gain in the last 1 month and extending the period to 3 months gives it a 48.30%, and is 33.16% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 12.32% over the week and 7.04% over the month.

High Tide Inc. (HITI) has around 1550 employees, a market worth around $196.53M and $368.72M in sales. Profit margin for the company is -7.11%. Distance from 52-week low is 128.95% and 13.48% from its 52-week high. The company has generated returns on investments over the last 12 months (-21.06%).

High Tide Inc. quarterly earnings per share for the current quarter are estimated at -$0.01 with sales reaching $94M over the same period., but quarterly earnings will post 7.70% year-over-year.

33 institutions hold shares in High Tide Inc. (HITI), with institutional investors hold 12.07% of the company’s shares. The shares outstanding are 75.30M, and float is at 67.97M with Short Float at 4.85%. Institutions hold 10.95% of the Float.

The top institutional shareholder in the company is ETF Managers Group, LLC with over 1.79 million shares valued at $2.44 million. The investor’s holdings represent 2.38% of the HITI Shares outstanding. As of Sep 29, 2023, the second largest holder is CVA Family Office, LLC with 1.57 million shares valued at $2.9 million to account for 2.08% of the shares outstanding. The other top investors are AdvisorShares Investments, LLC which holds 1.37 million shares representing 1.83% and valued at over $1.7 million, while AXS Investments, LLC holds 0.73% of the shares totaling 0.55 million with a market value of $0.68 million.

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