High Tide Inc. (NASDAQ: HITI) stock fell -4.80% on Friday to $1.19 against a previous-day closing price of $1.25. With 0.61 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.33 million shares. During the session, the Pharmaceutical Retailers company that operates in wider Healthcare sector, reached to the highest price of $1.2600 whereas the lowest price it dropped to was $1.1400. The 52-week range on HITI shows that it touched its highest point at $2.30 and its lowest point at $1.03 during that stretch. Beta for the stock currently stands at 0.84.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HITI was down-trending over the past week, with a drop of -7.03%, but this was down by -24.68% over a month. Three-month performance dropped to -8.46% while six-month performance fell -13.77%. The stock lost -30.41% in the past year, while it has lost -22.73% so far this year.
Float and Shares Shorts:
At present, 71.02 million HITI shares are outstanding with a float of 68.11 million shares on hand for trading. On Oct 30, 2023, short shares totaled 2.93 million, which was 3.91% higher than short shares on Sep 28, 2023. In addition to Mr. Harkirat Grover as the firm’s Founder, CEO, President & Executive Chairman, Mr. Aman Sood serves as its Chief Operating Officer.
Institutional Ownership:
Through their ownership of 6.64% of HITI’s outstanding shares, institutional investors have minority control over the company. With a 3.70% stake in HITI, the ETFMG Alternative Harvest ETF is the largest stakeholder. A total of 2,777,128 shares are owned by the mutual fund manager. The AdvisorShares Trust – Pure Cannab, which owns about 2.08% of HITI stock, is the second-largest Mutual Fund holder. It holds 1,558,342 shares valued at 2.26 million. AXS Cannabis ETF holds 0.70% of the stake in HITI, owning 528,881 shares worth 0.77 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HITI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HITI analysts setting a high price target of $9.00 and a low target of $4.25, the average target price over the next 12 months is $5.54. Based on these targets, HITI could surge 656.3% to reach the target high and rise by 257.14% to reach the target low. Reaching the average price target will result in a growth of 365.55% from current levels.
Summary of Insider Activity:
Insiders traded HITI stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 831,092 while 107,199 shares were sold.
