Smith & Wesson said Americans are buying more guns, and now its stock is going wild

Shares of Smith & Wesson are going wild.

The gun maker’s stock was up by as much as 13% to as high as $US14.75 per share in trading Wednesday, the highest in nearly 10 months.

In a release on Wednesday, the company said orders have been stronger than expected in the fourth fiscal quarter.

It raised its expectations for net sales to between $US175 million and $US179 million, an 8% bump from the range it projected early in March.

For the full-year, the company sees sales totaling $US546-$US550 million.

Adjusted earnings per share are expected to fall between $US0.39-$US0.41 in the fourth quarter and $US0.96-$US0.98 for the full year. Previously, the company had forecast adjusted EPS of $US0.29-$US0.31 in the fourth quarter and the $US0.87-$US0.89 for the year.

In its most recent quarter, the company reported net sales fell 10.5%.

The stock is up 55% year-to-date.

Here’s a chart showing the spike in trading:

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