Ouster, Inc. OUST shares rallied 7.1% in the last trading session to close at $20.34. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 84.7% gain over the past four weeks.
OUST is benefiting from a diversified customer base and growing demand for its REV7 sensors, cloud-based Gemini platform and AI-powered BlueCity suite.
This company is expected to post quarterly loss of $0.48 per share in its upcoming report, which represents a year-over-year change of +9.4%. Revenues are expected to be $34 million, up 26% 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 Ouster, 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 OUST 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 >>>>
Ouster is part of the Zacks Electronics - Miscellaneous Components industry. American Superconductor AMSC, another stock in the same industry, closed the last trading session 3.2% higher at $30.83. AMSC has returned 21.1% in the past month.
For American Superconductor, the consensus EPS estimate for the upcoming report has changed +33.3% over the past month to $0.13. This represents a change of +62.5% from what the company reported a year ago. American Superconductor currently has a Zacks Rank of #2 (Buy).
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Ouster, Inc. (OUST): Free Stock Analysis Report American Superconductor Corporation (AMSC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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