Strength Seen in Airgain (AIRG): Can his 6.4% jump turn into more strength?
Shares of Airgain (AIRG) ended the last trading session up 6.4% at $6.51. The jump occurred on impressive volume with an above average number of stocks changing hands during the session. That compares to the stock’s 24.6% loss over the past four weeks.
The company is experiencing strong demand for integrated wireless solutions in the form of antenna products. These products are equipped to meet critical connectivity needs in both the design process and the operating environment in enterprise, automotive and consumer markets. Ideal for original and design equipment manufacturers, vertical markets, chipset vendors, service providers, value-added resellers, and software developers worldwide, customizable antennas address connectivity challenges interior and exterior.
This antenna product developer is expected to post quarterly earnings of $0.06 per share in its upcoming report, representing a year-over-year change of +126.1%. Revenue is expected to be $20.48 million, up 44.8% from the prior year quarter.
While earnings and revenue growth expectations are important in gauging a stock’s potential strength, empirical research shows a strong correlation between trends in earnings estimate revisions and short-term stock price movements. term.
For Airgain, the consensus EPS estimate for the quarter remained unchanged for the past 30 days. And the price of a stock generally does not continue to rise in the absence of any trend in earnings estimate revisions. So be sure to keep an eye on AIRG to see if that recent jump can turn into more strength down the road.
The stock currently carries a Zacks rank of No. 2 (buy). You can see the full list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
Airgain is part of the Zacks Communication – Components industry. Corning (GLW), another stock in the same sector, closed the last trading session down 0.1% at $31.94. GLW returned -6.6% over the past month.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.