Neo Performance Materials Inc. (NOPMF) Stock Jumps 12.9%: Will It Continue to Soar?

(NOPMF) shares ended the last trading session 12.9% higher at $19.04. 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 17.5% gain over the past four weeks.

NOPMF's rally reflects optimism over the growth prospects in its Rare Metals business. Rare Metals benefits from strong demand in aerospace, industrial gas turbine and semiconductor, aided by investment in advanced manufacturing and clean energy technologies.

This company is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents a year-over-year change of +183.3%. Revenues are expected to be $110.4 million, down 18.2% 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 Neo Performance Materials Inc., 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 NOPMF 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 >>>>

Neo Performance Materials Inc. belongs to the Zacks Chemical - Specialty industry. Another stock from the same industry,

(FSI), closed the last trading session 0.1% higher at $5.29. Over the past month, FSI has returned -12.7%.

For Flexible Solutions International, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.07. This represents a change of +40% from what the company reported a year ago. Flexible Solutions International currently has a Zacks Rank of #3 (Hold).