Echelon Corporation (ELON) saw a big move last session, as the company’s shares fell nearly 17% 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 trend for ELON as the stock is now up over 40% in the past one-month time frame.
This networking & communication devices company has seen a flat track record when it comes to current year estimate revisions over the past few weeks as there were no revisions on either side. The consensus for earnings hasn’t been in trend either. 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.
ELON currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.0%.
Investors interested in the Computer and Technology sector may consider better-ranked stocks like AAC Technologies Holdings Inc. (AACAY), Ambarella, Inc. (AMBA) and Arris Enterprises, Inc. (ARRS). All these stocks carry a Zacks Rank #1 (Strong Buy).
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