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Airgain (AIRG) shares ended the last trading session 6.4% higher at $6.51. 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 24.6% loss over the past four weeks.
The company is witnessing solid demand for integrated wireless solutions in the form of antenna products. These products are equipped to solve critical connectivity needs in both the design process and the operating environment across the enterprise, automotive and consumer markets. Ideal for original equipment and design manufacturers, vertical markets, chipset vendors, service providers, value-added resellers and software developers worldwide, the customizable antennas serve both indoor and outdoor connectivity issues.
This antenna products developer is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of +126.1%. Revenues are expected to be $20.48 million, up 44.8% 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 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 #2 (Buy). You can see the complete 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 industry, closed the last trading session 0.1% lower at $31.94. GLW has returned -6.6% in the past month.
For Corning
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Airgain, Inc. (AIRG) : Free Stock Analysis Report
Corning Incorporated (GLW) : Free Stock Analysis Report
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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.
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