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

paul_szoldra_lakeland_gun_show20130921_0054
Paul Szoldra for Business Insider

Shares of Smith & Wesson are going wild.

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The gun maker's stock was up by as much as 13% to as high as $14.75 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 $175 million and $179 million, an 8% bump from the range it projected early in March.

For the full-year, the company sees sales totaling $546-$550 million. 

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Adjusted earnings per share are expected to fall between $0.39-$0.41 in the fourth quarter and $0.96-$0.98 for the full year. Previously, the company had forecast adjusted EPS of $0.29-$0.31 in the fourth quarter and $0.87-$0.89 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:

Screen Shot 2015 04 15 at 11.09.27 AM
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