CryoPort, Inc. (CYRX) shares ended the last trading session 26.7% higher at $7.03. 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 47.6% loss over the past four weeks.
CryoPort expects revenues to improve as the year goes on. Revenues from the company's Life Sciences Products group are likely to drive growth. Moreover, it seems that investors are bullish on the fact that the Schall Law Firm, a national shareholder rights litigation firm, is investigating claims regarding violations of the securities laws by CYRX. This development might have led to the northward movement of the CYRX stock following losses over the past few weeks.
This company is expected to post quarterly loss of $0.36 per share in its upcoming report, which represents a year-over-year change of +14.3%. Revenues are expected to be $58.54 million, up 2.7% 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 CryoPort, 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 CYRX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
CryoPort belongs to the Zacks Transportation - Services industry. Another stock from the same industry, Despegar.com (DESP), closed the last trading session 0.5% lower at $13.55. Over the past month, DESP has returned -6.1%.
For Despegar.com
Free Report: 5 “Whisper” Stocks Poised to Stun Wall Street
Analysts may be seriously underestimating these stocks. When they announce earnings, they could immediately jump +10-20%.
See Stocks Now >>CryoPort, Inc. (CYRX) : Free Stock Analysis Report
Despegar.com Corp. (DESP) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
