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Inari Medical, Inc. (NARI) Soars 6.3%: Is Further Upside Left in the Stock?

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Inari Medical, Inc. (NARI - Free Report) shares soared 6.3% in the last trading session to close at $59.13. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 18.3% loss over the past four weeks.

The upside move in the company's shares is most likely a rebound following a three-month declining trend. Investors should remain cautious and wait for its quarterly results which will be reported on Feb 27.

This company is expected to post quarterly loss of $0.17 per share in its upcoming report, which represents a year-over-year change of -950%. Revenues are expected to be $107.55 million, up 29.2% 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 Inari Medical, Inc., the consensus EPS estimate for the quarter has been revised 13.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on NARI 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 >>>>

Inari Medical, Inc. is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, Rapid Micro Biosystems, Inc. (RPID - Free Report) , finished the last trading session 0.8% higher at $1.31. RPID has returned -6.5% over the past month.

Rapid Micro Biosystems, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.38. Compared to the company's year-ago EPS, this represents a change of -8.6%. Rapid Micro Biosystems, Inc. currently boasts a Zacks Rank of #3 (Hold).

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