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Byrna Technologies Inc. (BYRN) Soars 7.0%: Is Further Upside Left in the Stock?
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Byrna Technologies Inc. (BYRN - Free Report) shares soared 7% in the last trading session to close at $6.45. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 12.5% loss over the past four weeks.
The surge in price can be attributed to success of the company's revamped advertising strategy, contributing to substantial growth in sales across Byrna.com, Byrna.ca, Amazon.com, and dealer/distributor channels.
This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of -166.7%. Revenues are expected to be $15.59 million, down 2.7% 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 Byrna Technologies 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 BYRN going forward to see if this recent jump can turn into more strength down the road.
Byrna Technologies Inc. belongs to the Zacks Technology Services industry. Another stock from the same industry, Ivanhoe Electric (IE - Free Report) , closed the last trading session 8.8% higher at $9.04. Over the past month, IE has returned -20.6%.
For Ivanhoe Electric, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.28. This represents a change of +31.7% from what the company reported a year ago. Ivanhoe Electric currently has a Zacks Rank of #2 (Buy).
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Byrna Technologies Inc. (BYRN) Soars 7.0%: Is Further Upside Left in the Stock?
Byrna Technologies Inc. (BYRN - Free Report) shares soared 7% in the last trading session to close at $6.45. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 12.5% loss over the past four weeks.
The surge in price can be attributed to success of the company's revamped advertising strategy, contributing to substantial growth in sales across Byrna.com, Byrna.ca, Amazon.com, and dealer/distributor channels.
This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of -166.7%. Revenues are expected to be $15.59 million, down 2.7% 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 Byrna Technologies 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 BYRN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Byrna Technologies Inc. belongs to the Zacks Technology Services industry. Another stock from the same industry, Ivanhoe Electric (IE - Free Report) , closed the last trading session 8.8% higher at $9.04. Over the past month, IE has returned -20.6%.
For Ivanhoe Electric, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.28. This represents a change of +31.7% from what the company reported a year ago. Ivanhoe Electric currently has a Zacks Rank of #2 (Buy).