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Byrna Technologies Inc. (BYRN) Surges 5.5%: Is This an Indication of Further Gains?
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Byrna Technologies Inc. (BYRN - Free Report) shares soared 5.5% in the last trading session to close at $9.67. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 48.6% gain over the past four weeks.
The latest uptick in the share performance of Byrna can be attributed to its recently released preliminary revenue expectations for its fiscal second quarter, which ended on May 31, 2022. Notably, the stock has witnessed growth in all of its sales channels in fiscal Q2 when compared with Q1 2022.
This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of -125%. Revenues are expected to be $11.5 million, down 14.2% 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 Byrna Technologies Inc., 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 BYRN going forward to see if this recent jump can turn into more strength down the road.
Byrna Technologies Inc. is part of the Zacks Technology Services industry. Spotify (SPOT - Free Report) , another stock in the same industry, closed the last trading session 3.5% lower at $111.93. SPOT has returned 26.2% in the past month.
For Spotify, the consensus EPS estimate for the upcoming report has changed +0.2% over the past month to -$0.68. This represents a change of -195.7% from what the company reported a year ago. Spotify currently has a Zacks Rank of #3 (Hold).
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Byrna Technologies Inc. (BYRN) Surges 5.5%: Is This an Indication of Further Gains?
Byrna Technologies Inc. (BYRN - Free Report) shares soared 5.5% in the last trading session to close at $9.67. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 48.6% gain over the past four weeks.
The latest uptick in the share performance of Byrna can be attributed to its recently released preliminary revenue expectations for its fiscal second quarter, which ended on May 31, 2022. Notably, the stock has witnessed growth in all of its sales channels in fiscal Q2 when compared with Q1 2022.
This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of -125%. Revenues are expected to be $11.5 million, down 14.2% 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 Byrna Technologies Inc., 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 BYRN 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 >>>>
Byrna Technologies Inc. is part of the Zacks Technology Services industry. Spotify (SPOT - Free Report) , another stock in the same industry, closed the last trading session 3.5% lower at $111.93. SPOT has returned 26.2% in the past month.
For Spotify, the consensus EPS estimate for the upcoming report has changed +0.2% over the past month to -$0.68. This represents a change of -195.7% from what the company reported a year ago. Spotify currently has a Zacks Rank of #3 (Hold).