Eargo, Inc. shares ended the last trading session 34.9% higher at $10.21. 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 65.1% loss over the past four weeks.
Eargo, Inc. recorded a strong price increase on FDA’s recently proposed rule to establish a novel category of over-the-counter (OTC) hearing aids. This action follows President Biden's Executive Order (EO) on “Promoting Competition in the American Economy”, issued in July, which asked the FDA to take steps to allow hearing aids to be sold over the counter. This rule, upon finalization, would enable hearing aids within the OTC category to be sold directly to consumers in stores or online without requiring a medical exam or a fitting by an audiologist. This new technology while reducing the cost of hearing aids, is expected to expand business of companies like Eargo.
This company is expected to post quarterly loss of $0.36 per share in its upcoming report, which represents a year-over-year change of -108.8%. Revenues are expected to be $23.63 million, up 29.9% 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 Eargo, Inc., 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 EAR 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 >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Eargo, Inc. shares ended the last trading session 34.9% higher at $10.21. 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 65.1% loss over the past four weeks.
Eargo, Inc. recorded a strong price increase on FDA’s recently proposed rule to establish a novel category of over-the-counter (OTC) hearing aids. This action follows President Biden's Executive Order (EO) on “Promoting Competition in the American Economy”, issued in July, which asked the FDA to take steps to allow hearing aids to be sold over the counter. This rule, upon finalization, would enable hearing aids within the OTC category to be sold directly to consumers in stores or online without requiring a medical exam or a fitting by an audiologist. This new technology while reducing the cost of hearing aids, is expected to expand business of companies like Eargo.
This company is expected to post quarterly loss of $0.36 per share in its upcoming report, which represents a year-over-year change of -108.8%. Revenues are expected to be $23.63 million, up 29.9% 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 Eargo, Inc., 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 EAR 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 >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>