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Airgain (AIRG) Surges 6.6%: Is This an Indication of Further Gains?
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Airgain (AIRG - Free Report) shares rallied 6.6% in the last trading session to close at $5.8. 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 35% gain over the past four weeks.
The uptrend was largely buoyed by a new IoT purchase order and strategic partnerships that have fueled bullish investor sentiments regarding its future growth prospects. These include a $4 million purchase order from an IoT solutions provider to support applications in connected commerce, payments, and industrial automation. Airgain will also develop integrated solutions for enhancing 4G and 5G coverage for Nextivity Inc. and cellular modems for Coco Robotics’ next-generation autonomous delivery robots.
This antenna products developer is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of +27.3%. Revenues are expected to be $11.45 million, down 4.7% 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 Airgain, 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 AIRG going forward to see if this recent jump can turn into more strength down the road.
Airgain belongs to the Zacks Communication - Components industry. Another stock from the same industry, Lumentum (LITE - Free Report) , closed the last trading session 9.8% higher at $896.02. Over the past month, LITE has returned 21.4%.
For Lumentum, the consensus EPS estimate for the upcoming report has changed +0.4% over the past month to $2.25. This represents a change of +294.7% from what the company reported a year ago. Lumentum currently has a Zacks Rank of #2 (Buy).
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Airgain (AIRG) Surges 6.6%: Is This an Indication of Further Gains?
Airgain (AIRG - Free Report) shares rallied 6.6% in the last trading session to close at $5.8. 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 35% gain over the past four weeks.
The uptrend was largely buoyed by a new IoT purchase order and strategic partnerships that have fueled bullish investor sentiments regarding its future growth prospects. These include a $4 million purchase order from an IoT solutions provider to support applications in connected commerce, payments, and industrial automation. Airgain will also develop integrated solutions for enhancing 4G and 5G coverage for Nextivity Inc. and cellular modems for Coco Robotics’ next-generation autonomous delivery robots.
This antenna products developer is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of +27.3%. Revenues are expected to be $11.45 million, down 4.7% 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 Airgain, 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 AIRG 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 >>>>
Airgain belongs to the Zacks Communication - Components industry. Another stock from the same industry, Lumentum (LITE - Free Report) , closed the last trading session 9.8% higher at $896.02. Over the past month, LITE has returned 21.4%.
For Lumentum, the consensus EPS estimate for the upcoming report has changed +0.4% over the past month to $2.25. This represents a change of +294.7% from what the company reported a year ago. Lumentum currently has a Zacks Rank of #2 (Buy).