The most recent trading session ended with High Tide Inc. (HITI) standing at $2.29, reflecting a -0.87% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 2.51%. Elsewhere, the Dow gained 2.66%, while the tech-heavy Nasdaq added 2.71%.
Heading into today, shares of the company had gained 5.96% over the past month, outpacing the Medical sector's loss of 11.09% and the S&P 500's loss of 8.86% in that time.
Market participants will be closely following the financial results of High Tide Inc. in its upcoming release. Our most recent consensus estimate is calling for quarterly revenue of $96.73 million, up 5.6% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.07 per share and revenue of $404.52 million. These totals would mark changes of -75% and +6.11%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for High Tide Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, High Tide Inc. boasts a Zacks Rank of #4 (Sell).
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 190, placing it within the bottom 24% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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