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Semler Scientific Inc. (SMLR) Surges 11.7%: Is This an Indication of Further Gains?

Semler Scientific Inc. (SMLR) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revi...

This story originally appeared on Zacks

Semler Scientific Inc. SMLR shares ended the last trading session 11.7% higher at $129. 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 7.4% gain over the past four weeks.

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Semler Scientific scored a strong price increase following the announcement of the company being listed under the highly-coveted Nasdaq Stock Market LLC. The company’s common stock will commence trading on The Nasdaq Capital Market under the trading symbol "SMLR" on Sept 28, 2021, at the time of market open. Meanwhile, Semler Scientific's common stock is reported to continue trading on the OTCQB until market close on Sept 27, 2021. Per management, the Nasdaq listing of the company’s stock is intended to improve the liquidity of its shares and to facilitate the expansion of its stockholder base.

This company is expected to post quarterly earnings of $0.65 per share in its upcoming report, which represents a year-over-year change of +6.6%. Revenues are expected to be $15.6 million, up 45.4% 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 Semler Scientific 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 SMLR going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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