American Superconductor (AMSC Quick QuoteAMSC - Free Report) shares ended the last trading session 6.3% higher at $18.24. 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 33.7% loss over the past four weeks.

American Superconductor extended its rally, driven by strong momentum across its Grid business. Positive contributions from Northeast Power Systems acquisition are driving growth in this business. Further, solid adoption of the company’s D-VAR products remains a tailwind.

Also, the company is benefiting from growing traction of its Wind business owing to strengthening shipment electrical control systems.

Price and Consensus

This wind turbine component maker is expected to post quarterly loss of $0.22 per share in its upcoming report, which represents a year-over-year change of +8.3%. Revenues are expected to be $19.8 million, up 9.2% 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 American Superconductor, 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 AMSC 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 >>>>