Strength Seen in Nyxoah SA (NYXH): Can Its 10.2% Jump Turn into More Strength?

Nyxoah SA NYXH shares rallied 10.2% in the last trading session to close at $8. 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 25.2% gain over the past four weeks.

Nyxoah scored a strong price increase, on investors’ optimism driven by the company’s announcement of raising gross proceeds of $3 million, in accordance to its $50 million at-the-market (ATM) program. The equity proceeds matched the Nasdaq Global Market price at the time of the sale and will be used for general corporate purposes.

This company is expected to post quarterly loss of $0.37 per share in its upcoming report, which represents a year-over-year change of -27.6%. Revenues are expected to be $1.22 million, up 64.9% 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 Nyxoah SA, the consensus EPS estimate for the quarter has been revised 26.7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on NYXH 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 >>>>

Nyxoah SA is a member of the Zacks Medical Info Systems industry. One other stock in the same industry, Fulgent Genetics, Inc. FLGT, finished the last trading session 3.2% higher at $31.43. FLGT has returned -4.8% over the past month.

For Fulgent Genetics, Inc. , the consensus EPS estimate for the upcoming report has changed +9.8% over the past month to -$0.34. This represents a change of -106.9% from what the company reported a year ago. Fulgent Genetics, Inc. currently has a Zacks Rank of #2 (Buy).

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