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New 52-week high triggered momentum — The stock hit a fresh 52-week high, opening significantly higher and fueling bullish sentiment. MarketBeat+1StockAnalysis
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Strong fundamentals and positive sentiment — Q2 earnings beat expectations (EPS of $0.08 vs. $0.05; revenue $304M vs. $249M), signaling solid performance. MarketBeat+2MarketBeat+2
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Institutional buying — Multiple institutional investors, including Dark Forest Capital (+146.8%), MIRAE ASSET (+12.7%), and CPP Investments, have increased their holdings. MarketBeat+2MarketBeat+2
In short: today’s surge is driven by a mix of technical breakout momentum, better-than-expected earnings, and strong institutional support.