Byrna Technologies Inc. (BYRN - Free Report) shares soared 5.7% in the last trading session to close at $6.14. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.4% gain over the past four weeks.
The price surge can be correlated to the recent announcement of preliminary expectations for the fourth fiscal quarter. Q4 2023 revenue forecast is $15.6M, a 120% rise from the quarter ago reported figure and a slight 2.7% dip from the year ago reported figure. Excluding erratic international sales, fourth quarter sales show a substantial 33% YoY increase.
This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of -183.3%. Revenues are expected to be $10.98 million, down 31.5% 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 Byrna Technologies 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 BYRN 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 >>>>
Byrna Technologies Inc. is part of the Zacks Technology Services industry. Symbotic Inc. (SYM - Free Report) , another stock in the same industry, closed the last trading session 1.1% lower at $56.36. SYM has returned 53.4% in the past month.
Symbotic Inc.'s consensus EPS estimate for the upcoming report has changed +36.8% over the past month to -$0.05. Compared to the company's year-ago EPS, this represents a change of +58.3%. Symbotic Inc. currently boasts a Zacks Rank of #3 (Hold).
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From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
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Byrna Technologies Inc. (BYRN - Free Report) shares soared 5.7% in the last trading session to close at $6.14. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.4% gain over the past four weeks.
The price surge can be correlated to the recent announcement of preliminary expectations for the fourth fiscal quarter. Q4 2023 revenue forecast is $15.6M, a 120% rise from the quarter ago reported figure and a slight 2.7% dip from the year ago reported figure. Excluding erratic international sales, fourth quarter sales show a substantial 33% YoY increase.
This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of -183.3%. Revenues are expected to be $10.98 million, down 31.5% 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 Byrna Technologies 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 BYRN 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 >>>>
Byrna Technologies Inc. is part of the Zacks Technology Services industry. Symbotic Inc. (SYM - Free Report) , another stock in the same industry, closed the last trading session 1.1% lower at $56.36. SYM has returned 53.4% in the past month.
Symbotic Inc.'s consensus EPS estimate for the upcoming report has changed +36.8% over the past month to -$0.05. Compared to the company's year-ago EPS, this represents a change of +58.3%. Symbotic Inc. currently boasts a Zacks Rank of #3 (Hold).
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
Be First to New Top 10 Stocks >>
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