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High Tide Inc. (HITI) Gains But Lags Market: What You Should Know
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High Tide Inc. (HITI - Free Report) closed at $3.01 in the latest trading session, marking a +0.33% move from the prior day. This change lagged the S&P 500's 0.61% gain on the day. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, added 1.28%.
Shares of the company witnessed a loss of 4.46% over the previous month, trailing the performance of the Medical sector with its gain of 1.64% and the S&P 500's gain of 2.08%.
Analysts and investors alike will be keeping a close eye on the performance of High Tide Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on January 29, 2025. On that day, High Tide Inc. is projected to report earnings of -$0.01 per share, which would represent a year-over-year decline of 150%. At the same time, our most recent consensus estimate is projecting a revenue of $97.91 million, reflecting a 4.62% rise from the equivalent quarter last year.
Investors might also notice recent changes to analyst estimates for High Tide Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 no change in the Zacks Consensus EPS estimate. Currently, High Tide Inc. is carrying a Zacks Rank of #4 (Sell).
Investors should also note High Tide Inc.'s current valuation metrics, including its Forward P/E ratio of 225. This signifies a premium in comparison to the average Forward P/E of 18.72 for its industry.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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High Tide Inc. (HITI) Gains But Lags Market: What You Should Know
High Tide Inc. (HITI - Free Report) closed at $3.01 in the latest trading session, marking a +0.33% move from the prior day. This change lagged the S&P 500's 0.61% gain on the day. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, added 1.28%.
Shares of the company witnessed a loss of 4.46% over the previous month, trailing the performance of the Medical sector with its gain of 1.64% and the S&P 500's gain of 2.08%.
Analysts and investors alike will be keeping a close eye on the performance of High Tide Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on January 29, 2025. On that day, High Tide Inc. is projected to report earnings of -$0.01 per share, which would represent a year-over-year decline of 150%. At the same time, our most recent consensus estimate is projecting a revenue of $97.91 million, reflecting a 4.62% rise from the equivalent quarter last year.
Investors might also notice recent changes to analyst estimates for High Tide Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 no change in the Zacks Consensus EPS estimate. Currently, High Tide Inc. is carrying a Zacks Rank of #4 (Sell).
Investors should also note High Tide Inc.'s current valuation metrics, including its Forward P/E ratio of 225. This signifies a premium in comparison to the average Forward P/E of 18.72 for its industry.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.