Are there any further gains left for the stock markets?

908 Devices Inc. (MASS) shares rose 8.5% in the last trading session to close at $8.20. This move was supported by solid volume, with significantly more shares changing hands than during a normal session. For comparison, the company’s stock value has dropped 19.3% over the past four weeks.

908 Devices has seen significant price increases as a result of the company’s recent expansion of its mobile device footprint internationally with the creation of a purchasing vehicle, providing thirty-one NATO Allies and four additional countries with the ability to expeditiously purchase MX908 units to enable broad trace detection and identification. Moreover, full-year 2023 revenues are expected to be between $48 million and $52 million, representing 2-11% year-over-year growth, also making investors optimistic about the stock.

The company is expected to report quarterly loss of $0.33 per share in the upcoming report, representing a year-over-year change of -26.9%. Revenue is expected to be $10.53 million, down 5.2% from the year-ago quarter.

While earnings and revenue growth expectations are important in assessing a stock’s potential strength, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

In the case of 908 Devices Inc. consensus EPS estimates for the quarter have not changed in the last 30 days. And a stock price typically doesn’t move higher in the absence of a trend in earnings estimate revisions. So be sure to keep an eye on MASS in the future to see if this latest surge can turn into more strength in the future.

The stock currently carries a Zacks Rank #3 (Hold). You can see complete list of today’s Zacks #1 (Strong Buy) stocks here >>>>

908 Devices Inc. belongs to the Zacks Medical – Instruments industry. Another company in the same industry, Edwards Lifesciences (EW), ended the latest trading session 0.7% higher at $93.10. Over the past month, EW has returned 5.8%.

The Edwards Lifesciences consensus EPS estimate for the upcoming report remains unchanged over the past month at $0.65. Compared to the company’s EPS a year earlier, this means a change of +3.2%. Edwards Lifesciences currently boasts a Zacks Rank #2 (Buy).

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