Zynex Inc. (ZYXI Quick QuoteZYXI - Free Report) shares ended the last trading session 6.5% higher at $15.19. 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 4.9% loss over the past four weeks.

Zynex scored a strong price rise driven by its encouraging second-quarter 2021 order growth and adjusted EBITDA estimate.  The company noted 247% year-over-year increase in order growth and raised its Q2 Adjusted EBITDA estimate to the band of $4.2-$5.2 million compared to the previously estimated range of $3-$4 million. Zynex plans to announce its Q2 earnings in late July.

This company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of -33.3%. Revenues are expected to be $31.29 million, up 62.5% 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 Zynex 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 ZYXI 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 >>>>