Cypress Energy Partners, L.P. (CELP) saw a big move last session, as the company’s shares fell by nearly 14% 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 CELP, as the stock is now down about 40% in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as the bank has seen two negative revisions 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.
CELP currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is negative.
Some better-ranked stocks in the Basic Materials sector include Innospec Inc. (IOSP), Mercer International Inc. (MERC) and Minerals Technologies Inc. (MTX). All these stocks hold a Zacks Rank #1 (Strong Buy).
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