We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Strength Seen in Airgain (AIRG): Can Its 18.9% Jump Turn into More Strength? (Revised)
Read MoreHide Full Article
Airgain (AIRG - Free Report) shares ended the last trading session 18.9% higher at $8.32. 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 13.3% loss over the past four weeks.
The surge was fueled by increased investor optimism following the company’s announcement that a leading U.S.-based water utility company has selected AirgainConnect AC-HPUE to improve the connectivity of its fleet. With up to 10 times the power and four times the coverage of a traditional router-mounted antenna, the utility plans to equip its 3,000 plus vehicle fleet with the roof-mounted antenna modem to enable optimum connectivity, even in the most remote areas. The multi-million dollar contract for the AirgainConnect devices will be deployed through the end of the year.
This antenna products developer is expected to post quarterly loss of $0.11 per share in its upcoming report, which represents a year-over-year change of -466.7%. Revenues are expected to be $17.31 million, down 0.4% 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 Airgain, 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 AIRG going forward to see if this recent jump can turn into more strength down the road.
Airgain is a member of the Zacks Communication - Components industry. One other stock in the same industry, Ooma (OOMA - Free Report) , finished the last trading session 1.9% lower at $14.23. OOMA has returned 0.1% over the past month.
For Ooma, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.10. This represents a change of -9.1% from what the company reported a year ago. Ooma currently has a Zacks Rank of #3 (Hold).
(We are reissuing this article to correct a mistake. The original article, published on April 15, 2022, should no longer be relied upon.)
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Strength Seen in Airgain (AIRG): Can Its 18.9% Jump Turn into More Strength? (Revised)
Airgain (AIRG - Free Report) shares ended the last trading session 18.9% higher at $8.32. 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 13.3% loss over the past four weeks.
The surge was fueled by increased investor optimism following the company’s announcement that a leading U.S.-based water utility company has selected AirgainConnect AC-HPUE to improve the connectivity of its fleet. With up to 10 times the power and four times the coverage of a traditional router-mounted antenna, the utility plans to equip its 3,000 plus vehicle fleet with the roof-mounted antenna modem to enable optimum connectivity, even in the most remote areas. The multi-million dollar contract for the AirgainConnect devices will be deployed through the end of the year.
This antenna products developer is expected to post quarterly loss of $0.11 per share in its upcoming report, which represents a year-over-year change of -466.7%. Revenues are expected to be $17.31 million, down 0.4% 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 Airgain, 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 AIRG 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 >>>>
Airgain is a member of the Zacks Communication - Components industry. One other stock in the same industry, Ooma (OOMA - Free Report) , finished the last trading session 1.9% lower at $14.23. OOMA has returned 0.1% over the past month.
For Ooma, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.10. This represents a change of -9.1% from what the company reported a year ago. Ooma currently has a Zacks Rank of #3 (Hold).
(We are reissuing this article to correct a mistake. The original article, published on April 15, 2022, should no longer be relied upon.)