Why Adept Technology (ADEP) Stock Is Tanking Today

NEW YORK (TheStreet) -- Shares of Adept Technology Inc  (ADEP) are falling -22.01% to $8.68 in early market trading after reporting fiscal fourth quarter earnings and revenue that missed analysts' estimates.

The robotics company posted fourth quarter earnings loss of -3 cents per share, below the Capital IQ Consensus Estimate of 3 cents a share by 6 cents.

Revenue grew 4.4% from the same quarter one year ago to $14.3 million, but missing analysts' estimates of $16.22 million.

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Separately, TheStreet Ratings team rates ADEPT TECHNOLOGY INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate ADEPT TECHNOLOGY INC (ADEP) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and compelling growth in net income. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."

ADEP Chart ADEP data by YCharts

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