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inTest Corporation (INTT) Surges 8.7%: Is This an Indication of Further Gains?

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inTest Corporation (INTT - Free Report) shares ended the last trading session 8.7% higher at $16.70. 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 8.9% gain over the past four weeks.

inTest extended its rally, driven by the solid execution of its 5-Point Strategy that focuses on global and market expansion, innovation and differentiation, and strategic acquisitions and partnerships. Further, strong demand environment in semiconductor, automotive, defense and aerospace, and life science markets are aiding its financial performance. This remains a positive.

This company is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of +75%. Revenues are expected to be $30.79 million, up 27.8% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For inTest Corporation, the consensus EPS estimate for the quarter has been revised 4.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on INTT 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 >>>>

inTest Corporation is part of the Zacks Electronics - Measuring Instruments industry. Aehr Test Systems (AEHR - Free Report) , another stock in the same industry, closed the last trading session 7% higher at $31.64. AEHR has returned -7% in the past month.

For Aehr Test Systems, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.16. This represents a change of +14.3% from what the company reported a year ago. Aehr Test Systems currently has a Zacks Rank of #3 (Hold).

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