HITECH Stock | | | 170.46 1.66 0.96% |
Hi Tech financial indicator trend analysis is much more than just examining Hi Tech Pipes latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Hi Tech Pipes is a good investment. Please check the relationship between Hi Tech Gross Profit and its Total Other Income Expense Net accounts. Check out
Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hi Tech Pipes Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in main economic indicators.
Gross Profit vs Total Other Income Expense Net
Gross Profit vs Total Other Income Expense Net Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
Hi Tech Pipes Gross Profit account and
Total Other Income Expense Net. At this time, the significance of the direction appears to have strong contrarian relationship.
The correlation between Hi Tech's Gross Profit and Total Other Income Expense Net is -0.55. Overlapping area represents the amount of variation of Gross Profit that can explain the historical movement of Total Other Income Expense Net in the same time period over historical financial statements of Hi Tech Pipes Limited, assuming nothing else is changed. The correlation between historical values of Hi Tech's Gross Profit and Total Other Income Expense Net is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Gross Profit of Hi Tech Pipes Limited are associated (or correlated) with its Total Other Income Expense Net. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Total Other Income Expense Net has no effect on the direction of Gross Profit i.e., Hi Tech's Gross Profit and Total Other Income Expense Net go up and down completely randomly.
Correlation Coefficient | -0.55 |
Relationship Direction | Negative |
Relationship Strength | Very Weak |
Gross Profit
Gross profit is a required income statement account that reflects total revenue of Hi Tech Pipes Limited minus its cost of goods sold. It is profit before Hi Tech operating expenses, interest payments and taxes. Gross profit is also known as gross margin. The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.
Total Other Income Expense Net
Most indicators from Hi Tech's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Hi Tech Pipes current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out
Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hi Tech Pipes Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in main economic indicators.
At present, Hi Tech's
Selling General Administrative is projected to increase significantly based on the last few years of reporting. The current year's
Issuance Of Capital Stock is expected to grow to about 1.2
B, whereas
Tax Provision is forecasted to decline to about 86
M.
| 2021 | 2022 | 2023 | 2024 (projected) |
Gross Profit | 1.8B | 2.1B | 2.4B | 1.3B | Total Revenue | 18.8B | 23.9B | 27.0B | 28.3B |
Hi Tech fundamental ratios Correlations
Click cells to compare fundamentals
Hi Tech Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Hi Tech fundamental ratios Accounts
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.
Other Information on Investing in HITECH Stock
Balance Sheet is a snapshot of the
financial position of Hi Tech Pipes at a specified time, usually calculated after every quarter, six months, or one year. Hi Tech Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Hi Tech and are divided into current liabilities and long term liabilities. An asset, on the other hand, is anything of value that can be converted into cash and which HITECH currently owns. An asset can also be divided into two categories, current and non-current.