Laird Superfood, Inc. (LSF) Soars 5.4%: Is Further Upside Left in the Stock?
Laird Superfood, Inc. (LSF) shares ended the last trading session 5.4% higher at $8.40. 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 41.2% loss over the past four weeks.
Shares of Laird Superfood got a boost following impressive fourth-quarter and full-year 2021 preliminary results. The company highlighted that it expects fourth-quarter net sales to be nearly $9.4 million, up 29% year-over-year. Gross margin for the quarter is anticipated to be roughly 24% compared with 20% in the fourth quarter of 2020. 2021 net sales are expected to be approximately $36.8 million, reflecting 43% year-over year growth. For 2021, gross margin is likely to come in at almost 26%, flat year-over-year.
This company is expected to post quarterly loss of $0.60 per share in its upcoming report, which represents a year-over-year change of -17.7%. Revenues are expected to be $11.1 million, up 52.1% 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 Laird Superfood, 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 LSF 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 >>>>
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