EnerNOC, Inc. (ENOC) Short Interest Down 54.0% in June
EnerNOC, Inc. (NASDAQ:ENOC) was the recipient of a large drop in short interest in June. As of June 30th, there was short interest totalling 782,975 shares, a drop of 54.0% from the June 15th total of 1,700,728 shares. Based on an average daily trading volume, of 1,150,851 shares, the days-to-cover ratio is presently 0.7 days. Approximately 3.2% of the shares of the stock are sold short.
A number of analysts have commented on the stock. Robert W. Baird downgraded shares of EnerNOC from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $11.00 to $8.00 in a report on Friday, June 23rd. Canaccord Genuity reiterated a “hold” rating and issued a $7.67 price objective on shares of EnerNOC in a report on Friday, June 23rd. Zacks Investment Research upgraded shares of EnerNOC from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 10th. Needham & Company LLC downgraded shares of EnerNOC from a “buy” rating to a “hold” rating in a report on Monday, June 26th. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating on shares of EnerNOC in a report on Friday, June 23rd. Seven research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average target price of $7.93.
Shares of EnerNOC (ENOC) opened at 7.675 on Friday. EnerNOC has a one year low of $4.80 and a one year high of $7.78. The stock’s 50 day moving average is $6.81 and its 200-day moving average is $5.96. The firm’s market cap is $226.19 million.
EnerNOC (NASDAQ:ENOC) last posted its quarterly earnings data on Tuesday, May 9th. The business services provider reported ($0.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.36) by $0.44. The business had revenue of $48.10 million during the quarter, compared to analyst estimates of $44.73 million. EnerNOC had a negative net margin of 10.51% and a negative return on equity of 42.33%. The company’s revenue was down 9.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.41) earnings per share. Analysts anticipate that EnerNOC will post ($2.33) EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in shares of EnerNOC by 11.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,358,931 shares of the business services provider’s stock valued at $8,153,000 after buying an additional 142,450 shares during the period. Renaissance Technologies LLC raised its position in shares of EnerNOC by 5.2% in the first quarter. Renaissance Technologies LLC now owns 1,262,200 shares of the business services provider’s stock valued at $7,573,000 after buying an additional 61,862 shares during the period. Vanguard Group Inc. raised its position in shares of EnerNOC by 8.7% in the first quarter. Vanguard Group Inc. now owns 1,235,705 shares of the business services provider’s stock valued at $7,414,000 after buying an additional 98,923 shares during the period. State Street Corp raised its position in shares of EnerNOC by 1.0% in the fourth quarter. State Street Corp now owns 459,670 shares of the business services provider’s stock valued at $2,756,000 after buying an additional 4,523 shares during the period. Finally, Longfellow Investment Management Co. LLC bought a new position in shares of EnerNOC during the second quarter valued at approximately $2,686,000. 49.63% of the stock is owned by institutional investors and hedge funds.
EnerNOC, Inc is a provider of energy intelligence software (EIS) and demand response solutions. The Company’s EIS provides enterprise solutions, utility solutions and energy procurement solutions. The Company’s EIS offers enterprise customers with a Software-as-a-Service (SaaS) solutions with various areas of functionalities, including energy cost visualization, budgets, forecasts and accruals; project tracking, and demand management.
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