908 Devices (MASS) Surges 7.0%: Is This an Indication of Further Gains?

908 Devices Inc. MASS shares ended the last trading session 7% higher at $7.3. 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 13.3% gain over the past four weeks.908 Devices witnessed a strong price rise on investors’ optimism surrounding its robust revenue growth in Q2. Additionally, the company strengthened its financial position by completing the previously announced restructuring efforts - cutting facility space by 44% and workforce by 39% year over year.This company is expected to post quarterly loss of $0.11 per share in its upcoming report, which represents a year-over-year change of +52.2%. Revenues are expected to be $13.58 million, down 19% 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 908 Devices, 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 MASS 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 >>>>908 Devices is part of the Zacks Medical - Instruments industry. Hologic HOLX, another stock in the same industry, closed the last trading session 2.8% lower at $66.33. HOLX has returned 1.6% in the past month.Hologic's consensus EPS estimate for the upcoming report has changed +0.1% over the past month to $1.1. Compared to the company's year-ago EPS, this represents a change of +8.9%. Hologic currently boasts a Zacks Rank of #3 (Hold).Free Report: 3 Software Stocks Poised to SkyrocketSoftware stocks are poised to catapult higher in the coming months (and years) thanks to several factors, especially the explosive growth of AI. Zacks' urgent report reveals 3 top software stocks to own right now.Access the report free today >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report 908 Devices Inc. (MASS): Free Stock Analysis Report Hologic, Inc. (HOLX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks