How did QUIK's Q4 2024 earnings surprise impact its stock?

QuickLogic's (QUIK) Q4 2024 earnings surprise had a significant impact on its stock, leading to a notable decline in the company's share price. 1. **Earnings Surprise and Revenue Performance**: - QuickLogic reported an EPS surprise of -0.29 and a revenue surprise of -358,000 for Q4 2024. - The company's revenue for the quarter was $4.13 million, missing analyst estimates of $4.50 million. 2. **Stock Price Reaction**: - Following the earnings release, QuickLogic's stock experienced a substantial drop, with the closing price falling from $7.55 on October 1, 2024, to $7.41 by December 10, 2024. - The stock's price declined further to $11.3 by the end of December 2024, representing a 0% change from the previous day. |code|Ticker|Name|Date|Closing Price|market_code| |---|---|---|---|---|---| |QUIK|QUIK.O|Quicklogic|20240102|13.68|186| |QUIK|QUIK.O|Quicklogic|20240103|13.91|186| |QUIK|QUIK.O|Quicklogic|20240104|13.35|186| |QUIK|QUIK.O|Quicklogic|20240105|14.16|186| |QUIK|QUIK.O|Quicklogic|20240108|14.37|186| |QUIK|QUIK.O|Quicklogic|20240109|14.33|186| |QUIK|QUIK.O|Quicklogic|20240110|14.21|186| |QUIK|QUIK.O|Quicklogic|20240111|13.82|186| |QUIK|QUIK.O|Quicklogic|20240112|13.61|186| |QUIK|QUIK.O|Quicklogic|20240116|13.69|186| 3. **Analyst Expectations and Market Sentiment**: - Analysts had expected an EPS of -0.05 for the quarter, which QuickLogic missed by -0.29. - The consensus target price for QuickLogic stood at $11.53, indicating potential upside from the current price. - Despite the negative earnings surprise, the stock had received a "Buy" consensus rating from analysts, with some even recommending a "Strong Buy". 4. **Market Performance and Moving Averages**: - QUICK's stock traded below its 50-day and 200-day moving averages of $7.88 and $8.83, respectively. - The stock's performance reflected broader market sentiment and the impact of the earnings miss. In conclusion, QuickLogic's Q4 2024 earnings surprise significantly contributed to the stock's decline, as the company reported a larger-than-expected EPS miss, leading to a drop in its share price. Despite the negative surprise, the stock's potential upside according to analyst target prices suggests that investor sentiment was not entirely bearish.