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Spartacus Acquisition (NN) Soars 26.6%: Is Further Upside Left in the Stock?
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NextNav Inc. (NN - Free Report) shares ended the last trading session 26.6% higher at $21.49. 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 7.2% loss over the past four weeks.
The stock recorded this price increase as investors pivoted to speculative buying and momentum-driven trading.
This company is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $0.95 million, down 38.6% 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 Spartacus Acquisition, the consensus EPS estimate for the quarter has been revised 9.4% 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.
Spartacus Acquisition is a member of the Zacks Technology Services industry. One other stock in the same industry, TTEC Holdings (TTEC - Free Report) , finished the last trading session 6.3% higher at $3.22. TTEC has returned -0.7% over the past month.
TTEC's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.25. Compared to the company's year-ago EPS, this represents a change of -10.7%. TTEC currently boasts a Zacks Rank of #1 (Strong Buy).
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Spartacus Acquisition (NN) Soars 26.6%: Is Further Upside Left in the Stock?
NextNav Inc. (NN - Free Report) shares ended the last trading session 26.6% higher at $21.49. 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 7.2% loss over the past four weeks.
The stock recorded this price increase as investors pivoted to speculative buying and momentum-driven trading.
This company is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $0.95 million, down 38.6% 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 Spartacus Acquisition, the consensus EPS estimate for the quarter has been revised 9.4% 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 #3 (Hold). 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, TTEC Holdings (TTEC - Free Report) , finished the last trading session 6.3% higher at $3.22. TTEC has returned -0.7% over the past month.
TTEC's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.25. Compared to the company's year-ago EPS, this represents a change of -10.7%. TTEC currently boasts a Zacks Rank of #1 (Strong Buy).