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High Tide Inc. (HITI) Stock Falls Amid Market Uptick: What Investors Need to Know
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High Tide Inc. (HITI - Free Report) closed the most recent trading day at $2.18, moving -1.36% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.09%. Elsewhere, the Dow saw a downswing of 0.49%, while the tech-heavy Nasdaq appreciated by 0.65%.
Prior to today's trading, shares of the company had lost 2.21% over the past month. This has lagged the Medical sector's gain of 5.88% and the S&P 500's gain of 5.78% in that time.
The upcoming earnings release of High Tide Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.01, reflecting no change from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $94.17 million, indicating an 8.08% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0 per share and revenue of $387.47 million, indicating changes of +100% and +7.16%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for High Tide Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, High Tide Inc. boasts a Zacks Rank of #1 (Strong Buy).
Investors should also note High Tide Inc.'s current valuation metrics, including its Forward P/E ratio of 663. This denotes a premium relative to the industry's average Forward P/E of 22.54.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 145, finds itself in the bottom 43% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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High Tide Inc. (HITI) Stock Falls Amid Market Uptick: What Investors Need to Know
High Tide Inc. (HITI - Free Report) closed the most recent trading day at $2.18, moving -1.36% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.09%. Elsewhere, the Dow saw a downswing of 0.49%, while the tech-heavy Nasdaq appreciated by 0.65%.
Prior to today's trading, shares of the company had lost 2.21% over the past month. This has lagged the Medical sector's gain of 5.88% and the S&P 500's gain of 5.78% in that time.
The upcoming earnings release of High Tide Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.01, reflecting no change from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $94.17 million, indicating an 8.08% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0 per share and revenue of $387.47 million, indicating changes of +100% and +7.16%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for High Tide Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, High Tide Inc. boasts a Zacks Rank of #1 (Strong Buy).
Investors should also note High Tide Inc.'s current valuation metrics, including its Forward P/E ratio of 663. This denotes a premium relative to the industry's average Forward P/E of 22.54.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 145, finds itself in the bottom 43% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.