TransAct Technologies Incorporated (TACT Quick QuoteTACT - Free Report) shares ended the last trading session 8.8% higher at $15.96. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.7% gain over the past four weeks.

TransAct is riding on the rising need for transaction-based printers and related products. The company has been witnessing strong adoption of its BOHA! Restaurant Operations Platform ("ROP"), which is helping it add new customers to the client base. Earlier this month, the company announced that its recently-launched products helped it acquire 16 new customers during the second quarter of 2021.

This company is expected to post quarterly loss of $0.26 per share in its upcoming report, which represents a year-over-year change of -4%. Revenues are expected to be $8.33 million, up 57.5% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For TransAct Technologies Incorporated, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TACT going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>