Inogen (INGN - Free Report) shares soared 5.1% in the last trading session to close at $27.82. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.5% gain over the past four weeks.
The stock has risen most probably on the back of anticipation for an improved second quarter results, scheduled to be announced on Aug 4.
This produces oxygen concentrators for patients suffering from chronic respiratory conditions is expected to post quarterly loss of $0.40 per share in its upcoming report, which represents a year-over-year change of -281.8%. Revenues are expected to be $100.74 million, down 0.8% 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 Inogen, the consensus EPS estimate for the quarter has been revised 5.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on INGN 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 >>>>
Inogen belongs to the Zacks Medical - Instruments industry. Another stock from the same industry, Pacific Biosciences of California (PACB - Free Report) , closed the last trading session 2.7% lower at $4.37. Over the past month, PACB has returned 1.6%.
Pacific Biosciences' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.34. Compared to the company's year-ago EPS, this represents a change of -61.9%. Pacific Biosciences currently boasts a Zacks Rank of #2 (Buy).
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
Inogen (INGN - Free Report) shares soared 5.1% in the last trading session to close at $27.82. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.5% gain over the past four weeks.
The stock has risen most probably on the back of anticipation for an improved second quarter results, scheduled to be announced on Aug 4.
This produces oxygen concentrators for patients suffering from chronic respiratory conditions is expected to post quarterly loss of $0.40 per share in its upcoming report, which represents a year-over-year change of -281.8%. Revenues are expected to be $100.74 million, down 0.8% 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 Inogen, the consensus EPS estimate for the quarter has been revised 5.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on INGN 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 >>>>
Inogen belongs to the Zacks Medical - Instruments industry. Another stock from the same industry, Pacific Biosciences of California (PACB - Free Report) , closed the last trading session 2.7% lower at $4.37. Over the past month, PACB has returned 1.6%.
Pacific Biosciences' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.34. Compared to the company's year-ago EPS, this represents a change of -61.9%. Pacific Biosciences currently boasts a Zacks Rank of #2 (Buy).
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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