Yahoo Finance High Tide Inc. (HITI) Advances While Market Declines: Some Information for Investors
High Tide Inc. (HITI) closed the most recent trading day at $2.03, moving +0.5% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.46%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 0.64%.
Coming into today, shares of the company had lost 1.94% in the past month. In that same time, the Medical sector lost 4.9%, while the S&P 500 lost 3.04%.
Market participants will be closely following the financial results of High Tide Inc. in its upcoming release. In that report, analysts expect High Tide Inc. to post earnings of -$0.01 per share. This would mark no growth from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $94.17 million, showing an 8.08% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0 per share and a revenue of $387.47 million, signifying shifts of +100% and +7.16%, respectively, from the last year.
Investors might also notice recent changes 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, High Tide Inc. holds 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 606 right now. Its industry sports an average Forward P/E of 20.53, so one might conclude that High Tide Inc. is trading at a premium comparatively.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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High Tide Inc. (HITI) : Free Stock Analysis Report
