High Tide Inc. (HITI) closed the most recent trading day at $2.38, moving -0.42% from the previous trading session. This change lagged the S&P 500's 0.06% gain on the day. On the other hand, the Dow registered a gain of 0.28%, and the technology-centric Nasdaq decreased by 0.1%.
Coming into today, shares of the company had gained 21.32% in the past month. In that same time, the Medical sector lost 6.38%, while the S&P 500 lost 4.29%.
The investment community will be paying close attention to the earnings performance of High Tide Inc. in its upcoming release. At the same time, our most recent consensus estimate is projecting a revenue of $96.73 million, reflecting a 5.6% rise from the equivalent quarter last year.
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.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for High Tide Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. High Tide Inc. currently has a Zacks Rank of #4 (Sell).
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 180, finds itself in the bottom 28% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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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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