Universal Display Corp. (OLED) 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 continues the recent downtrend for OLED, as the stock is now down nearly 14% since Jul 9, 2015.
On Aug 6, the company posted dismal second-quarter 2015 results; wherein adjusted earnings of 41 cents per share missed estimates and quarterly revenues dropped over 9%.
This developer and marketer of OLED technologies and materials has seen no estimate revision over the past few weeks, and the consensus for earnings is unchanged over the same time frame. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
OLED currently has a Zacks Rank #5 (Strong Sell)
A better-ranked stock in the same sector is Mobileye N.V. (MBLY), holding a Zacks Rank #2 (Buy).
Is OLED going up? Or down? Predict to see what others think: Up or Down
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