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Strength Seen in nLight (LASR): Can Its 5.2% Jump Turn into More Strength?
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nLight (LASR - Free Report) shares soared 5.2% in the last trading session to close at $11.58. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10.2% loss over the past four weeks.
LASR is benefiting from increased investments to enhance technological capabilities, particularly in the Aerospace & Defense sector, with a strong focus on laser sensing and directed energy applications.
This laser maker is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents a year-over-year change of -500%. Revenues are expected to be $49.21 million, down 7.7% 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 nLight, 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 LASR going forward to see if this recent jump can turn into more strength down the road.
nLight belongs to the Zacks Electronics - Semiconductors industry. Another stock from the same industry, Broadcom Inc. (AVGO - Free Report) , closed the last trading session 2.2% lower at $1,705.95. Over the past month, AVGO has returned 16.7%.
For Broadcom Inc., the consensus EPS estimate for the upcoming report has changed +4.1% over the past month to $11.96. This represents a change of +13.5% from what the company reported a year ago. Broadcom Inc. currently has a Zacks Rank of #2 (Buy).
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Strength Seen in nLight (LASR): Can Its 5.2% Jump Turn into More Strength?
nLight (LASR - Free Report) shares soared 5.2% in the last trading session to close at $11.58. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10.2% loss over the past four weeks.
LASR is benefiting from increased investments to enhance technological capabilities, particularly in the Aerospace & Defense sector, with a strong focus on laser sensing and directed energy applications.
This laser maker is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents a year-over-year change of -500%. Revenues are expected to be $49.21 million, down 7.7% 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 nLight, 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 LASR 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 >>>>
nLight belongs to the Zacks Electronics - Semiconductors industry. Another stock from the same industry, Broadcom Inc. (AVGO - Free Report) , closed the last trading session 2.2% lower at $1,705.95. Over the past month, AVGO has returned 16.7%.
For Broadcom Inc., the consensus EPS estimate for the upcoming report has changed +4.1% over the past month to $11.96. This represents a change of +13.5% from what the company reported a year ago. Broadcom Inc. currently has a Zacks Rank of #2 (Buy).