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High Tide Inc. (HITI) Stock Slides as Market Rises: Facts to Know Before You Trade
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High Tide Inc. (HITI - Free Report) closed at $2.37 in the latest trading session, marking a -1.66% move from the prior day. This change lagged the S&P 500's daily gain of 0.07%. Meanwhile, the Dow experienced a drop of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.18%.
Shares of the company have appreciated by 9.55% over the course of the past month, outperforming the Medical sector's gain of 2.39%, and the S&P 500's gain of 5.71%.
Analysts and investors alike will be keeping a close eye on the performance of High Tide Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.01, indicating a 200% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $106.58 million, up 10.97% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.05 per share and a revenue of $416.27 million, signifying shifts of -25% and +9.19%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for High Tide Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, High Tide Inc. holds a Zacks Rank of #2 (Buy).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 186, which puts it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow HITI in the coming trading sessions, be sure to utilize Zacks.com.
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High Tide Inc. (HITI) Stock Slides as Market Rises: Facts to Know Before You Trade
High Tide Inc. (HITI - Free Report) closed at $2.37 in the latest trading session, marking a -1.66% move from the prior day. This change lagged the S&P 500's daily gain of 0.07%. Meanwhile, the Dow experienced a drop of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.18%.
Shares of the company have appreciated by 9.55% over the course of the past month, outperforming the Medical sector's gain of 2.39%, and the S&P 500's gain of 5.71%.
Analysts and investors alike will be keeping a close eye on the performance of High Tide Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.01, indicating a 200% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $106.58 million, up 10.97% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.05 per share and a revenue of $416.27 million, signifying shifts of -25% and +9.19%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for High Tide Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, High Tide Inc. holds a Zacks Rank of #2 (Buy).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 186, which puts it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow HITI in the coming trading sessions, be sure to utilize Zacks.com.