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Echelon (ELON) Falls: Stock Moves 7.3% Lower
January 30, 2014

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Echelon Corporation saw a big move last session, as the company’s shares fell by 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 reverses the recent trend for ELON, as the stock is now up by more than 54% in the past one-month time frame.

This networking & communication devices company has seen a flat track record when it comes to current year estimate revisions over the past few weeks as there were no revisions on either side.  The consensus for earnings hasn’t been in 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.  

ELON currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.0%

Some better-ranked stocks in the Technology sector include AAC Technologies Holdings Inc. (AACAY), Arris Enterprises, Inc. (ARRS) and Broadcom Corp. (BRCM). All these stocks carry a Zacks Rank #1 (Strong Buy).

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