Camtek (CAMT Quick QuoteCAMT - Free Report) shares ended the last trading session 10.6% higher at $31.80. 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 1.1% gain over the past four weeks.

Camtek extended its rally, driven by strong order momentum. Winning multiple system orders from several customers are contributing well to the company’s top line. Robust system performance across 2D applications remains a positive. Moreover, growing traction among new customers as well as existing customers is a major tailwind. Apart from this, increasing demand for 5G related applications is also benefiting the company.

Price and Consensus

This maker of automatic optical inspection and process enhancement systems is expected to post quarterly earnings of $0.24 per share in its upcoming report, which represents a year-over-year change of +166.7%. Revenues are expected to be $54.95 million, up 82.1% 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 Camtek, the consensus EPS estimate for the quarter has been revised 36.7% 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 CAMT 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 >>>>