Adept Technology (ADEP) in Focus: Stock Plunges 8.9%


Adept Technology Inc. (ADEP) saw a big move last session, as the company’s shares fell about 9% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $15.67 to $21.45 in the past one-month time frame.
The machinery manufacturing company has seen a flat record when it comes to current year estimate revisions over the past few weeks (0 increases, 0 decreases), and the consensus for earnings hasn’t been in a 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.
ADEP currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Some better-ranked stocks in the same sector include Alliance Fiber Optic Products Inc. (AFOP), Bitauto Holdings Limited (BITA) and ChyronHego Corp. (CHYR). All these stocks hold a Zacks Rank #1 (Strong Buy).
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ADEPT TECHNOLOGY INC (ADEP): Free Stock Analysis Report

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