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Advanced Energy (AEIS) Falls: Stock Goes Down 6.5%

Zacks Equity Research

Advanced Energy Industries, Inc. (AEIS) saw a big move last session, as the company’s shares fell about 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 AEIS, as the stock is now down nearly 17% in the past one-month time frame.

This slump shouldn’t be too much of a surprise to investors, as the manufacturer of power conversion products has seen has seen 2 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.

AEIS currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.

Some better-ranked stocks in the same sector include Autodesk, Inc. (ADSK), Advent Software, Inc. (ADVS) and Advanced Micro Devices, Inc. (AMD). All these carry a Zacks Rank #2 (Buy).

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