The ONE Group Hospitality, Inc. (STKS Quick QuoteSTKS - Free Report) shares soared 8.6% in the last trading session to close at $5.33. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 24.6% gain over the past four weeks.

Reopening of dining rooms at STK and Kona Grill restaurants along with aggressive and sustained marketing activities have been boosting investors’ confidence.

Price and Consensus

This company is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of +83.3%. Revenues are expected to be $53.1 million, up 1.7% 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 The ONE Group Hospitality, 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 STKS 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 >>>>