In the latest market close, High Tide Inc. (HITI) reached $2.82, with a +1.81% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.39% for the day. Meanwhile, the Dow gained 0.71%, and the Nasdaq, a tech-heavy index, added 0.2%.
Coming into today, shares of the company had lost 14.24% in the past month. In that same time, the Medical sector gained 4.4%, while the S&P 500 gained 1.7%.
Investors will be eagerly watching for the performance of High Tide Inc. in its upcoming earnings disclosure. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $95.97 million, up 1.28% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.04 per share and revenue of $413.24 million, indicating changes of 0% and +8.39%, respectively, compared to the previous year.
It is also important to note the 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 past month, there's been a 400% fall in the Zacks Consensus EPS estimate. High Tide Inc. currently has a Zacks Rank of #5 (Strong Sell).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 136, which puts it in the bottom 46% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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High Tide Inc. (HITI) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
