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Byrna Technologies Inc. (BYRN) Surges 8.2%: Is This an Indication of Further Gains?
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Byrna Technologies Inc. (BYRN - Free Report) shares ended the last trading session 8.2% higher at $8.89. 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 47.6% gain over the past four weeks.
The positive response from investors can be correlated to the expansion of manufacturing facility at Fort Wayne, Indiana facility. The increase in manufacturing prowess is done with the goal of meeting soaring demand. It is expected influencer network growth to drive sales surge, with B2B demand also rising, including in Canada & Mexico.
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. is a member of the Zacks Technology Services industry. One other stock in the same industry, Qifu Technology, Inc. (QFIN - Free Report) , finished the last trading session 2.8% lower at $14.12. QFIN has returned -0.8% over the past month.
For Qifu Technology, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.96. This represents a change of +23.1% from what the company reported a year ago. Qifu Technology, Inc. currently has a Zacks Rank of #3 (Hold).
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Byrna Technologies Inc. (BYRN) Surges 8.2%: Is This an Indication of Further Gains?
Byrna Technologies Inc. (BYRN - Free Report) shares ended the last trading session 8.2% higher at $8.89. 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 47.6% gain over the past four weeks.
The positive response from investors can be correlated to the expansion of manufacturing facility at Fort Wayne, Indiana facility. The increase in manufacturing prowess is done with the goal of meeting soaring demand. It is expected influencer network growth to drive sales surge, with B2B demand also rising, including in Canada & Mexico.
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. is a member of the Zacks Technology Services industry. One other stock in the same industry, Qifu Technology, Inc. (QFIN - Free Report) , finished the last trading session 2.8% lower at $14.12. QFIN has returned -0.8% over the past month.
For Qifu Technology, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.96. This represents a change of +23.1% from what the company reported a year ago. Qifu Technology, Inc. currently has a Zacks Rank of #3 (Hold).