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High Tide Inc. (HITI) Stock Sinks As Market Gains: What You Should Know
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High Tide Inc. (HITI - Free Report) closed the most recent trading day at $2.16, moving -1.37% from the previous trading session. This move lagged the S&P 500's daily gain of 0.91%. Elsewhere, the Dow gained 0.85%, while the tech-heavy Nasdaq added 1.51%.
The company's shares have seen a decrease of 16.09% over the last month, not keeping up with the Medical sector's loss of 2.73% and the S&P 500's loss of 4.2%.
Investors will be eagerly watching for the performance of High Tide Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.01, marking stability compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $94.17 million, indicating an 8.08% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0 per share and revenue of $387.47 million. These totals would mark changes of +100% and +7.16%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for High Tide Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, High Tide Inc. is carrying a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that High Tide Inc. has a Forward P/E ratio of 657 right now. This indicates a premium in contrast to its industry's Forward P/E of 21.73.
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 151, positioning it in the bottom 41% 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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High Tide Inc. (HITI) Stock Sinks As Market Gains: What You Should Know
High Tide Inc. (HITI - Free Report) closed the most recent trading day at $2.16, moving -1.37% from the previous trading session. This move lagged the S&P 500's daily gain of 0.91%. Elsewhere, the Dow gained 0.85%, while the tech-heavy Nasdaq added 1.51%.
The company's shares have seen a decrease of 16.09% over the last month, not keeping up with the Medical sector's loss of 2.73% and the S&P 500's loss of 4.2%.
Investors will be eagerly watching for the performance of High Tide Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.01, marking stability compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $94.17 million, indicating an 8.08% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0 per share and revenue of $387.47 million. These totals would mark changes of +100% and +7.16%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for High Tide Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, High Tide Inc. is carrying a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that High Tide Inc. has a Forward P/E ratio of 657 right now. This indicates a premium in contrast to its industry's Forward P/E of 21.73.
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 151, positioning it in the bottom 41% 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 follow all of these stock-moving metrics, and many more, on Zacks.com.