High Tide Inc. (HITI – Free Report) closed at $2.59 in the latest trading session, marking a +0.39% move from the prior day. The stock’s performance was ahead of the S&P 500’s daily loss of 1.71%. Meanwhile, the Dow experienced a drop of 1.7%, and the technology-dominated Nasdaq saw a decrease of 2.2%.
The company’s stock has dropped by 10.11% in the past month, falling short of the Medical sector’s gain of 5.02% and the S&P 500’s gain of 2.2%.
Investors will be eagerly watching for the performance of High Tide Inc. in its upcoming earnings disclosure. Meanwhile, our latest consensus estimate is calling for revenue of $95.97 million, up 1.28% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.04 per share and revenue of $413.24 million, which would represent changes of 0% and +8.39%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for High Tide Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 past month, the Zacks Consensus EPS estimate has shifted 400% downward. High Tide Inc. presently features a Zacks Rank of #5 (Strong Sell).
The Medical – Products industry is part of the Medical sector. With its current Zacks Industry Rank of 75, this industry ranks in the top 30% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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