Sonus Networks, Inc. ( SONS ) saw a big move last session, as the company's shares fell by nearly 11% 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 $16.96 to $19.08 since Jan 30, 2015.
On Feb 18, the company reported fourth-quarter net loss of $2.2 million, after reporting a profit in the year-ago-period. Also, the company's revenues of $76.8 million were shy of the Zacks Consensus Estimate of $77 million.
This network solutions provider has seen a mixed track record when it comes to current year estimate revisions over the past few weeks (no increase, 1 decrease), 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.
SONS currently has a Zacks Rank #4 (Sell).
Investors interested in the Wireless Equipment industry may consider better-ranked stock like InterDigital, Inc. ( IDCC ), which carries a Zacks Rank #1 (Strong Buy).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.