National Instruments Corporation ( NATI ) saw a big move last session, as the company's shares fell 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 breaks the recent trend of the company, as the stock is now trading below the volatile price range of $30.60 to $32.88 in the past one-month time frame.
This slump shouldn't be too much of a surprise to investors, as this electrical equipments 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.
NATI currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is negative.
Some better-ranked stocks in the Industrial Products sector include ARC Document Solutions, Inc. ( ARC ), Ball Corporation ( BLL ) and CIRCOR International, Inc. ( CIR ). All these stocks carry a Zacks Rank #1 (Strong Buy).
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