In the latest market close, High Tide Inc. (HITI) reached $2.41, with a -0.41% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.15% for the day. On the other hand, the Dow registered a gain of 0.35%, and the technology-centric Nasdaq decreased by 0.09%.
The company's shares have seen an increase of 22.84% over the last month, surpassing the Medical sector's loss of 4.39% and the S&P 500's loss of 0.21%.
Investors will be eagerly watching for the performance of High Tide Inc. in its upcoming earnings disclosure. Meanwhile, the latest consensus estimate predicts the revenue to be $96.73 million, indicating a 5.6% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.07 per share and a revenue of $404.52 million, indicating changes of -75% and +6.11%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for High Tide Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, High Tide Inc. is carrying a Zacks Rank of #4 (Sell).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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High Tide Inc. (HITI) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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