Genasys (GNSS Quick QuoteGNSS - Free Report) shares ended the last trading session 9.1% higher at $5.99. 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 23.3% loss over the past four weeks.

Shares of Genasys appreciated after the company reported better-than-expected second-quarter fiscal 2021 results. Moreover, top line also increased 37% year over year.

Price and Consensus

This developer of directed sound technologies used by the military and police is expected to post quarterly earnings of $0.04 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $12.93 million, up 8% 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 Genasys, 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 GNSS 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 >>>>