GDEV Inc. (GDEV) shares ended the last trading session 5.5% higher at $12.6. 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 5.3% loss over the past four weeks.
GDEV shares rose as investors likely responded positively to the company’s announcement regarding the upcoming expiration of its deeply out-of-the-money warrants. The development is expected to simplify GDEV’s capital structure, eliminate a potential dilution overhang and reduce warrant-related uncertainty. Unusually high trading volume and the stock’s limited liquidity likely amplified the upward price movement.
This company is expected to post quarterly earnings of $1.08 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $115 million, down 4.1% 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 GDEV 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 GDEV going forward to see if this recent jump can turn into more strength down the road.
GDEV Inc. is a member of the Zacks Gaming industry. One other stock in the same industry, Take-Two Interactive (TTWO), finished the last trading session 1.4% lower at $230.25. TTWO has returned -0.9% over the past month.
For Take-Two, the consensus EPS estimate for the upcoming report has changed +12.3% over the past month to $0.31. This represents a change of -49.2% from what the company reported a year ago. Take-Two currently has a Zacks Rank of #3 (Hold).
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