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Acacia Communications (ACIA) Catches Eye: Stock Soars 11%

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Acacia Communications, Inc. (ACIA - Free Report) was a big mover last session, as the company saw its shares rise over 11% on the day. The upside was driven by the company’s announcement of raising its third-quarter preliminary revenue estimate. The news led to far more shares changing hands than in a normal session resulting in solid volume. This stock, trading in a volatile price range of $99.50 to $119.34 in the past one-month time frame, showed a pick-up yesterday at $113.54.

The company has seen one positive revision in the past one month, while its Zacks Consensus Estimate moved higher over the same time frame, suggesting that more solid trading could be ahead for this stock. So make sure to keep an eye on this stock going forward to see if yesterday’s jump can turn into more strength down the road.

Acacia Communications currently carries a Zacks Rank #2 (Buy), while its Earnings ESP is 0.00%.



A better-ranked stock in the same industry is UTStarcom Holdings Corp. , sporting a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.

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