High Tide Q3: Incredible Sales Momentum, Weaker Gross Margin (Rating Upgrade) [Seeking Alpha]
High Tide Inc. - Common Shares (HITI)
Company Research
Source: Seeking Alpha
Play 13min Summary High Tide's Q3 showed great sales growth amid slower industry growth, as the Canna Cabana chain continues gaining market share. The gross margin contracted sequentially, being a cost of the rapid sales expansion, but I believe that the long-term case for margin expansion still stands. High Tide's retail network expansion, membership growth, private label launch, pop-up stores, and potential new market entries should continue the ongoing momentum in upcoming years. HITI stock is now increasingly attractively priced. JHVEPhoto/iStock Editorial via Getty Images High Tide Inc. NASDAQ: HITI ), the Canadian cannabis retailer operating primarily under the Canna Cabana brand, reported the company's fiscal Q3 results on the 16 th of September after market close. While revenues grew above Wall Street's expectations, profitability took a sequential hiccup from a softer gross margin and High Tide's retail network expansion. Overall, the quarter highlighted High
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HITI
News
- High Tide Makes the Report on Business Annual Ranking of Canada's Top Growing Companies for Fourth Consecutive Year [Yahoo! Finance]Yahoo! Finance
- High Tide Makes the Report on Business Annual Ranking of Canada's Top Growing Companies for Fourth Consecutive Year [Yahoo! Finance]Yahoo! Finance
- High Tide Makes the Report on Business Annual Ranking of Canada's Top Growing Companies for Fourth Consecutive YearPR Newswire
- High Tide Inc. (NASDAQ: HITI) had its "buy" rating re-affirmed by analysts at Roth Mkm. They now have a $4.50 price target on the stock.MarketBeat
- High Tide Reports Third Quarter 2024 Financial Results Featuring Record Revenue of $131.7 Million, and 2nd Consecutive Quarter of Positive Net Income [Yahoo! Finance]Yahoo! Finance
HITI
Sec Filings
- 9/23/24 - Form 6-K
- 9/16/24 - Form 6-K
- 9/16/24 - Form 6-K
- HITI's page on the SEC website