High Tide Inc. (HITI) closed at $3.05 in the latest trading session, marking a -0.16% move from the prior day. This change was narrower than the S&P 500's 1.07% loss on the day. Meanwhile, the Dow experienced a drop of 0.97%, and the technology-dominated Nasdaq saw a decrease of 1.19%.
Heading into today, shares of the company had lost 6.44% over the past month, lagging the Medical sector's loss of 5.64% and the S&P 500's loss of 0.36% in that time.
The investment community will be closely monitoring the performance of High Tide Inc. in its forthcoming earnings report. The company is expected to report EPS of -$0.01, down 150% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $97.91 million, indicating a 4.62% upward movement from the same quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for High Tide Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. Within the past 30 days, our consensus EPS projection has moved 61.91% lower. High Tide Inc. is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, High Tide Inc. is holding a Forward P/E ratio of 228.75. This signifies a premium in comparison to the average Forward P/E of 24.71 for its industry.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 126, placing it within the top 50% of over 250 industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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High Tide Inc. (HITI) : Free Stock Analysis Report
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