Seagate Technology Public Limited Company STX saw a big move last Friday, 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 STX, as the stock is now down 12% since Dec 30, 2015.
This slump shouldn’t be too much of a surprise to investors, as the computer-storage devices company 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.
STX currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.
A better-ranked stock in the same sector is Datalink Corporation DTLK, holding a Zacks Rank #2 (Buy).
Is STX going up? Or down? Predict to see what others think: Up or Down
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