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Byrna Technologies Inc. (BYRN) Moves 17.9% Higher: Will This Strength Last?
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Byrna Technologies Inc. (BYRN - Free Report) shares rallied 17.9% in the last trading session to close at $13. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 34.2% gain over the past four weeks.
The stock is benefitting from the record setting revenues expectation announced in the company’s preliminary fiscal first quarter 2024 results. These record quarterly revenues mark 98% year-over-year increase.
This company is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of -166.7%. Revenues are expected to be $11.24 million, up 33.7% 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 Byrna Technologies Inc., the consensus EPS estimate for the quarter has been revised 10% 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 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, Qifu Technology, Inc. (QFIN - Free Report) , closed the last trading session 1.9% lower at $15.19. Over the past month, QFIN has returned 6.7%.
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) Moves 17.9% Higher: Will This Strength Last?
Byrna Technologies Inc. (BYRN - Free Report) shares rallied 17.9% in the last trading session to close at $13. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 34.2% gain over the past four weeks.
The stock is benefitting from the record setting revenues expectation announced in the company’s preliminary fiscal first quarter 2024 results. These record quarterly revenues mark 98% year-over-year increase.
This company is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of -166.7%. Revenues are expected to be $11.24 million, up 33.7% 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 Byrna Technologies Inc., the consensus EPS estimate for the quarter has been revised 10% 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 BYRN 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 >>>>
Byrna Technologies Inc. belongs to the Zacks Technology Services industry. Another stock from the same industry, Qifu Technology, Inc. (QFIN - Free Report) , closed the last trading session 1.9% lower at $15.19. Over the past month, QFIN has returned 6.7%.
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).