Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of irrigation system manufacturer Lindsay Corp. (NYSE: LNN) spouted up in early trading, gaining as much as 13% before giving almost all of it back.

So what: Results were solid for Lindsay's fiscal second quarter. Revenue came in at $120 million, up 41% from last year and above the $110 million that Wall Street was expecting. On the bottom line, the company showed $0.89 in per-share profit versus $0.48 last year. Analysts were looking for just $0.71.

Now what: Even with those strong numbers, Lindsay's stock wasn't able to hold the gains from early in the trading day. Squeamish investors and hard-headed short-sellers could be behind that. The stock has attracted heavy short interest as the company's recently strong results have led to a huge run in the stock. Over the past year, the stock has tacked on roughly 80% and trades at 34 times expected fiscal 2011 earnings. In addition, there have been concerns around cash flow. The strong bottom-line numbers of the past 12 months haven't been mirrored by cash production, as accounts receivable and inventory have been climbing. Of course, on the latter concern, bulls might note that historically the company's cash flow has tended to be pretty lumpy from year to year.

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Fool contributor Matt Koppenheffer does not have a financial interest in any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.