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LightPath Technologies (LPTH) Surges 13.5%: Is This an Indication of Further Gains?
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LightPath Technologies, Inc. (LPTH - Free Report) shares ended the last trading session 13.5% higher at $13.23. 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 59.1% gain over the past four weeks.
LightPath Technologies is benefiting from its strategic shift to germanium-free infrared systems, leveraging proprietary BlackDiamond glass and expanding its high-value systems and subsystems offerings.
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 +42.9%. Revenues are expected to be $13.27 million, up 78.6% 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 LightPath Technologies, 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 LPTH going forward to see if this recent jump can turn into more strength down the road.
LightPath Technologies belongs to the Zacks Electronics - Miscellaneous Components industry. Another stock from the same industry, TE Connectivity (TEL - Free Report) , closed the last trading session 0.3% higher at $237.3. Over the past month, TEL has returned 4.3%.
For TE Connectivity, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.54. This represents a change of +30.3% from what the company reported a year ago. TE Connectivity currently has a Zacks Rank of #3 (Hold).
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LightPath Technologies (LPTH) Surges 13.5%: Is This an Indication of Further Gains?
LightPath Technologies, Inc. (LPTH - Free Report) shares ended the last trading session 13.5% higher at $13.23. 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 59.1% gain over the past four weeks.
LightPath Technologies is benefiting from its strategic shift to germanium-free infrared systems, leveraging proprietary BlackDiamond glass and expanding its high-value systems and subsystems offerings.
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 +42.9%. Revenues are expected to be $13.27 million, up 78.6% 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 LightPath Technologies, 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 LPTH 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 >>>>
LightPath Technologies belongs to the Zacks Electronics - Miscellaneous Components industry. Another stock from the same industry, TE Connectivity (TEL - Free Report) , closed the last trading session 0.3% higher at $237.3. Over the past month, TEL has returned 4.3%.
For TE Connectivity, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.54. This represents a change of +30.3% from what the company reported a year ago. TE Connectivity currently has a Zacks Rank of #3 (Hold).