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Strength Seen in Quanterix Corporation (QTRX): Can Its 5.1% Jump Turn into More Strength?
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Quanterix Corporation (QTRX - Free Report) shares ended the last trading session 5.1% higher at $15.95. 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 9.6% loss over the past four weeks.
Quanterix is scheduled to release second-quarter earnings results on Aug 8. The rise is share price is likely in anticipation of a positive quarterly results.
This company is expected to post quarterly loss of $0.67 per share in its upcoming report, which represents a year-over-year change of -103%. Revenues are expected to be $29.54 million, up 16.4% 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 Quanterix Corporation, 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 QTRX going forward to see if this recent jump can turn into more strength down the road.
Quanterix Corporation is a member of the Zacks Medical - Products industry. One other stock in the same industry, Quipt Home Medical Corp. (QIPT - Free Report) , finished the last trading session 1.8% lower at $5.39. QIPT has returned 20.7% over the past month.
For Quipt Home Medical Corp., the consensus EPS estimate for the upcoming report has changed -3.7% over the past month to $0.07. This represents a change of +250% from what the company reported a year ago. Quipt Home Medical Corp. currently has a Zacks Rank of #2 (Buy).
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Strength Seen in Quanterix Corporation (QTRX): Can Its 5.1% Jump Turn into More Strength?
Quanterix Corporation (QTRX - Free Report) shares ended the last trading session 5.1% higher at $15.95. 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 9.6% loss over the past four weeks.
Quanterix is scheduled to release second-quarter earnings results on Aug 8. The rise is share price is likely in anticipation of a positive quarterly results.
This company is expected to post quarterly loss of $0.67 per share in its upcoming report, which represents a year-over-year change of -103%. Revenues are expected to be $29.54 million, up 16.4% 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 Quanterix Corporation, 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 QTRX 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 >>>>
Quanterix Corporation is a member of the Zacks Medical - Products industry. One other stock in the same industry, Quipt Home Medical Corp. (QIPT - Free Report) , finished the last trading session 1.8% lower at $5.39. QIPT has returned 20.7% over the past month.
For Quipt Home Medical Corp., the consensus EPS estimate for the upcoming report has changed -3.7% over the past month to $0.07. This represents a change of +250% from what the company reported a year ago. Quipt Home Medical Corp. currently has a Zacks Rank of #2 (Buy).