Kayne Anderson Energy Developme (KED) saw a big move last session, as the company’s shares fell by nearly 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for KED, as the stock is now down 20.0% in the past one-month time frame.
Although this slump was obviously disappointing Kayne Anderson Energy has not seen any positive revision but its current year earnings consensus has moved higher over the past few weeks. This suggests that the recent slump might be a temporary blip on the radar for KED. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.
KED currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.
Investors interested in the finance sector may consider better-ranked stocks like Atlas Financial Holdings, Inc. (AFH), Arlington Asset Investment Corp. (AI) and Aspen Insurance Holdings Ltd. (AHL). All these stocks carry a Zacks Rank #1 (Strong Buy).
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