ZAGG (ZAGG) Shares Squeezing into Q1 Numbers as Volatility Rises
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Shares of ZAGG (Nasdaq: ZAGG) are moving higher as traders position for its quarterly report, expected out on Thursday. Volatility is higher on the move.
For ZAGG, which sees upside when Apple reports numbers or analysts make calls on iPhone sales, the move might be technical as well as sentiment. Volume is strong Monday as ZAGG shares have broken above the $12.50 price level, a price point the stock hasn't been at in about six months.
With Apple reporting strong iPhone sales numbers, traders are expecting big things in ZAGG's report. Earnings are expected to be 14 cents per with revs of $52.0 million, compared to EPS of 13 cents and revs of $27 million last year.
Current implied volatility is up 11.45 percent on the session and about 145 percent above its annual historical average.
In addition, a short-squeeze might be happening. Data shows 9.5 million of ZAGG outstanding being held short, which amounts to one-third of its total outstanding share count.
Shares are 7 percent better Monday.
For ZAGG, which sees upside when Apple reports numbers or analysts make calls on iPhone sales, the move might be technical as well as sentiment. Volume is strong Monday as ZAGG shares have broken above the $12.50 price level, a price point the stock hasn't been at in about six months.
With Apple reporting strong iPhone sales numbers, traders are expecting big things in ZAGG's report. Earnings are expected to be 14 cents per with revs of $52.0 million, compared to EPS of 13 cents and revs of $27 million last year.
Current implied volatility is up 11.45 percent on the session and about 145 percent above its annual historical average.
In addition, a short-squeeze might be happening. Data shows 9.5 million of ZAGG outstanding being held short, which amounts to one-third of its total outstanding share count.
Shares are 7 percent better Monday.
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