nLight LASR shares rallied 28.1% in the last trading session to close at $13.23. 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 4.6% loss over the past four weeks.
nLight has been capitalizing on increased investments in technological capabilities, particularly in the aerospace and defense sectors, with a strong focus on laser sensing and directed energy applications.
This laser maker is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $55.71 million, up 10% 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 nLight, 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 LASR 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 >>>>
nLight is part of the Zacks Electronics - Semiconductors industry. Broadcom Inc. AVGO, another stock in the same industry, closed the last trading session 0.6% lower at $172.02. AVGO has returned 0.2% in the past month.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
