Compellent Technologies, Inc. (CML) estimates are rising, along with its share price, following recent news.

Estimates Still Rising

Since Compellent was featured as a Zacks Rank Buy in early November, full-year estimates have gained a penny for this and next year. The current Zacks Consensus Estimate is 16 cents for 2009 and 24 cents in 2010.

Public Offering

Compellent offered 3.8 million shares at a 2% discount to raise over $65 million in late November. Only 600,000 of the shares came from the company, the remainder was offered by shareholders. Shares rose sharply on the news.

The Chart

Shares of CML were volatile around the public offering, but have gained ground since being feature in November. The MACD is about the cross over, which is viewed as a bullish indicator. Take a look below.

Bill Wilton is the Growth Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Growth Trader service

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