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Spartacus Acquisition (NN) Stock Jumps 7.7%: Will It Continue to Soar?
NextNav Inc. (NN - Free Report) shares ended the last trading session 7.7% higher at $12.87. 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 53.6% gain over the past four weeks.
The stock benefits from the company’s pioneering 3D geolocation technology, meeting the rising demand for precise location data in sectors like public safety and augmented reality. Strong partnerships, a solid patent portfolio, and a favorable regulatory environment further support its growth. These factors position NextNav well for potential market expansion, making it an attractive investment option as location-based service needs continue to evolve.
This company is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents a year-over-year change of +28.6%. Revenues are expected to be $1.11 million, up 7.3% 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 Spartacus Acquisition, the consensus EPS estimate for the quarter has been revised 3.1% 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 NN 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 >>>>
Spartacus Acquisition is a member of the Zacks Technology Services industry. One other stock in the same industry, FiscalNote Holdings, Inc. (NOTE - Free Report) , finished the last trading session 5% lower at $0.85. NOTE has returned -25.2% over the past month.
FiscalNote Holdings, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.10. Compared to the company's year-ago EPS, this represents a change of +9.1%. FiscalNote Holdings, Inc. currently boasts a Zacks Rank of #3 (Hold).