TGC Industries Inc. (TGE) saw a big move last session, as the company’s shares fell by over 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent uptrend for TGE, as the stock gained nearly 8.8% between Feb 27 and Mar 25.
This slump shouldn’t be too much of a surprise to investors, as the company in the Oil-Field Services industry has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
TGE currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
Some better-ranked stocks in the same space include Compressco Partners, L.P. (GSJK), Exterran Holdings, Inc. (EXH) and Willbros Group Inc. (WG). All these stocks carry a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Be the first to comment