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High Tide Inc. (HITI) Ascends While Market Falls: Some Facts to Note
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The latest trading session saw High Tide Inc. (HITI - Free Report) ending at $1.92, denoting a +1.59% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.6%. On the other hand, the Dow registered a loss of 0.39%, and the technology-centric Nasdaq decreased by 1.12%.
Prior to today's trading, shares of the company had gained 3.28% over the past month. This has lagged the Medical sector's gain of 4.78% and outpaced the S&P 500's gain of 3.15% in that time.
The investment community will be closely monitoring the performance of High Tide Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on September 16, 2024. The company's earnings per share (EPS) are projected to be -$0.02, reflecting a 33.33% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $93.3 million, indicating a 0.14% growth compared to the corresponding quarter of the prior year.
HITI's full-year Zacks Consensus Estimates are calling for earnings of -$0.03 per share and revenue of $374.14 million. These results would represent year-over-year changes of +66.67% and +3.48%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for High Tide Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. High Tide Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 98, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the 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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High Tide Inc. (HITI) Ascends While Market Falls: Some Facts to Note
The latest trading session saw High Tide Inc. (HITI - Free Report) ending at $1.92, denoting a +1.59% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.6%. On the other hand, the Dow registered a loss of 0.39%, and the technology-centric Nasdaq decreased by 1.12%.
Prior to today's trading, shares of the company had gained 3.28% over the past month. This has lagged the Medical sector's gain of 4.78% and outpaced the S&P 500's gain of 3.15% in that time.
The investment community will be closely monitoring the performance of High Tide Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on September 16, 2024. The company's earnings per share (EPS) are projected to be -$0.02, reflecting a 33.33% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $93.3 million, indicating a 0.14% growth compared to the corresponding quarter of the prior year.
HITI's full-year Zacks Consensus Estimates are calling for earnings of -$0.03 per share and revenue of $374.14 million. These results would represent year-over-year changes of +66.67% and +3.48%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for High Tide Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. High Tide Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 98, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the 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.