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Ericsson (ERIC) saw a big move last session, as the company’s shares fell by almost 9% 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 ERIC, as the stock is now down over 11% in the past one-month time frame.
 
This slump shouldn’t be too much of a surprise to investors, as the wireless equipments company 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.
 
ERIC currently has a Zacks Rank #3 (Hold).
 
A better-ranked stock in the same industry is Zhone Technologies Inc. (ZHNE), which currently carries a Zacks Rank #1 (Strong Buy).
 
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ERICSSON LM ADR (ERIC): Free Stock Analysis Report
 
ZHONE TECH INC (ZHNE): Free Stock Analysis Report
 
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