Fitbit, Inc. (FIT - Free Report) was a big mover last session, as the company saw its shares rise more than 14% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $5.19 to $6.51 in the past one-month time frame.
The stock was driven after the company announced that its kids’ wearable device, Fitbit Ace will now be available worldwide.
The company has not seen any estimate revisions over the past month, while the Zacks Consensus Estimate has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Fitbit currently has a Zacks Rank #4 (Sell), while its Earnings ESP is negative.
A better-ranked stock in the Electronics - Measuring Instruments industry is Advantest Corporation (ATEYY - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is FIT going up? Or down? Predict to see what others think: Up or Down
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>