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SonoTek (SOTK) Moves 18.5% Higher: Will This Strength Last?
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Sono-Tek Corporation (SOTK - Free Report) shares rallied 18.5% in the last trading session to close at $5.9. 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 0.6% gain over the past four weeks.
Sono-Tek Corporation is benefiting from rising adoption of its ultrasonic coating systems across clean energy applications, supported by expanding production-scale orders and a growing backlog.
This company is expected to post quarterly earnings of $0.05 per share in its upcoming report, which represents a year-over-year change of +66.7%. Revenues are expected to be $5.68 million, up 10.1% 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 SonoTek, 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 SOTK going forward to see if this recent jump can turn into more strength down the road.
SonoTek is a member of the Zacks Electronics - Semiconductors industry. One other stock in the same industry, GlobalFoundries Inc. (GFS - Free Report) , finished the last trading session 0.1% higher at $47.92. GFS has returned 9% over the past month.
For GlobalFoundries, the consensus EPS estimate for the upcoming report has changed +0.1% over the past month to $0.51. This represents a change of +24.4% from what the company reported a year ago. GlobalFoundries currently has a Zacks Rank of #3 (Hold).
View the Zacks #1 Rank List
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SonoTek (SOTK) Moves 18.5% Higher: Will This Strength Last?
Sono-Tek Corporation (SOTK - Free Report) shares rallied 18.5% in the last trading session to close at $5.9. 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 0.6% gain over the past four weeks.
Sono-Tek Corporation is benefiting from rising adoption of its ultrasonic coating systems across clean energy applications, supported by expanding production-scale orders and a growing backlog.
This company is expected to post quarterly earnings of $0.05 per share in its upcoming report, which represents a year-over-year change of +66.7%. Revenues are expected to be $5.68 million, up 10.1% 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 SonoTek, 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 SOTK 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 >>>>
SonoTek is a member of the Zacks Electronics - Semiconductors industry. One other stock in the same industry, GlobalFoundries Inc. (GFS - Free Report) , finished the last trading session 0.1% higher at $47.92. GFS has returned 9% over the past month.
For GlobalFoundries, the consensus EPS estimate for the upcoming report has changed +0.1% over the past month to $0.51. This represents a change of +24.4% from what the company reported a year ago. GlobalFoundries currently has a Zacks Rank of #3 (Hold).