CryoPort (CYRX) Moves 7.0% Higher: Will This Strength Last?

CryoPort, Inc. (CYRX) shares ended the last trading session 7% higher at $10.71. 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 12.9% gain over the past four weeks.

Shares of this transportation conpany have performed well this year, driven by revenue strength. Its expansion efforts are commendable, as well. Recently, the company expanded its footprint by opening a global supply chain center in Paris.

This company is expected to post quarterly loss of $0.23 per share in its upcoming report, which represents a year-over-year change of -1050%. Revenues are expected to be $40.84 million, down 27.9% 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 CryoPort, 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 CYRX 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 >>>>

CryoPort is part of the Zacks Transportation - Services industry. Expeditors International (EXPD), another stock in the same industry, closed the last trading session 0.8% higher at $118.25. EXPD has returned -6.1% in the past month.

For Expeditors International, the consensus EPS estimate for the upcoming report has changed +0.5% over the past month to $1.4. This represents a change of -14.1% from what the company reported a year ago. Expeditors International currently has a Zacks Rank of #3 (Hold).

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This article originally published on Zacks Investment Research (zacks.com).

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