High Tide Inc. (HITI) Ascends While Market Falls: Some Facts to Note

In the latest market close, High Tide Inc. (HITI) reached $2.32, with a +0.43% movement compared to the previous day. This change outpaced the S&P 500's 2.36% loss on the day. On the other hand, the Dow registered a loss of 2.48%, and the technology-centric Nasdaq decreased by 2.55%.Shares of the company have appreciated by 6.94% over the course of the past month, outperforming the Medical sector's loss of 9.83% and the S&P 500's loss of 5.6%.Analysts and investors alike will be keeping a close eye on the performance of High Tide Inc. in its upcoming earnings disclosure. Our most recent consensus estimate is calling for quarterly revenue of $96.73 million, up 5.6% from the year-ago period.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.07 per share and a revenue of $404.52 million, indicating changes of -75% and +6.11%, respectively, from the former year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for High Tide Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research suggests that these changes in estimates have a direct relationship with upcoming 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. High Tide Inc. presently features a Zacks Rank of #4 (Sell).The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 185, positioning it in the bottom 26% 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.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report High Tide Inc. (HITI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks