DarioHealth Corp.DRIO shares ended the last trading session 12.9% higher at $7.9. 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 16.9% gain over the past four weeks.
DarioHealth scored a strong price increase on investors’ optimism surrounding the securities purchase agreements with current long term Dario institutional investors as well as new fundamental investors for the purchase and sale of 3,454,559 shares of common stock, at a price of $6.80 per share. The closing of the offering is expected to occur on or about July 23, subject to the satisfaction of customary closing conditions. DarioHealth intends to use the net proceeds from the offering for working capital, investments, acquisitions and general corporate purposes.
This company is expected to post quarterly loss of $0.74 per share in its upcoming report, which represents a year-over-year change of +69.2%. Revenues are expected to be $6.19 million, up 15.3% 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 DarioHealth, 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 DRIO going forward to see if this recent jump can turn into more strength down the road.
DarioHealth is part of the Zacks Medical - Instruments industry. ClearPoint Neuro, Inc.CLPT, another stock in the same industry, closed the last trading session 2.5% lower at $15.03. CLPT has returned -16.8% in the past month.
ClearPoint Neuro's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.27. Compared to the company's year-ago EPS, this represents a change of -28.6%. ClearPoint Neuro currently boasts a Zacks Rank of #3 (Hold).
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