earnings revision upward,, stock price will follow suit over time
Zacks By Zacks Equity Research
March 14, 2014 3:32 AM
Abraxas Petroleum Corp. (AXAS) was a big mover last session with shares rising nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent downtrend of the company, as the stock has now lost over 3% in the past one-month time frame.
This independent energy company has witnessed four positive estimate revisions in the last 30 days. The Zacks Consensus Estimate has also moved higher over the same period. This implies solid trading potential for the company. So make sure to keep an eye on this stock going forward to see if yesterday’s price action can turn into more strength down the road.
Abraxas currently holds a Zacks Rank #2 (Buy) while its Earnings ESP is positive.
Zacks By Zacks Equity Research
March 14, 2014 3:32 AM
Abraxas Petroleum Corp. (AXAS) was a big mover last session with shares rising nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent downtrend of the company, as the stock has now lost over 3% in the past one-month time frame.
This independent energy company has witnessed four positive estimate revisions in the last 30 days. The Zacks Consensus Estimate has also moved higher over the same period. This implies solid trading potential for the company. So make sure to keep an eye on this stock going forward to see if yesterday’s price action can turn into more strength down the road.
Abraxas currently holds a Zacks Rank #2 (Buy) while its Earnings ESP is positive.
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