Canaccord Genuity Keeps a Buy Rating on High Tide (HITIF)

In a report released yesterday, Kimberly Hedlin from Canaccord Genuity maintained a Buy rating on High Tide (HITIFResearch Report), with a price target of C$0.45. The company’s shares closed last Thursday at $0.12.

According to TipRanks.com, Hedlin is a 4-star analyst with an average return of 4.7% and a 42.3% success rate. Hedlin covers the Industrial Goods sector, focusing on stocks such as Decibel Cannabis Company, Khiron Life Sciences, and Delta 9 Cannabis.

Currently, the analyst consensus on High Tide is a Moderate Buy with an average price target of $0.32.

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Based on High Tide’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $13.66 million and GAAP net loss of $3.84 million. In comparison, last year the company earned revenue of $5 million and had a GAAP net loss of $3.78 million.

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High Tide, Inc. operates as a counterculture chain, which engages in the manufacture and retail of cannabis accessories. The firm operates through the Wholesale and Retail business segments. Its brands include: Famous Brandz, RGR, Smoker’s Corner, Canna Cabana, KushBar, and Kush West. The company was founded by Harkirat Grover in 2009 and is headquartered in Calgary, Canada.