Acorn Energy Inc. (NASDAQ:ACFN) Short Interest Down 24.7% in December

Acorn Energy Inc. (NASDAQ:ACFN) was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totaling 21,937 shares, a decline of 24.7% from the November 30th total of 29,138 shares. Based on an average trading volume of 31,086 shares, the short-interest ratio is currently 0.7 days. Currently, 1.3% of the company’s shares are sold short. Currently, 1.3% of the company’s shares are sold short. Based on an average trading volume of 31,086 shares, the short-interest ratio is currently 0.7 days.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Acorn Energy in a research note on Monday. Wall Street Zen cut Acorn Energy from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Institutional Investors Weigh In On Acorn Energy

A number of hedge funds have recently made changes to their positions in ACFN. Citadel Advisors LLC purchased a new position in Acorn Energy in the third quarter valued at about $323,000. Access Investment Management LLC purchased a new stake in shares of Acorn Energy during the third quarter valued at about $25,000. Finally, Northstar Group Inc. bought a new stake in shares of Acorn Energy in the 3rd quarter valued at about $250,000.

Acorn Energy Trading Up 1.1%

NASDAQ ACFN opened at $15.10 on Thursday. The company has a market capitalization of $37.75 million, a P/E ratio of 5.70 and a beta of 0.12. The company’s 50 day simple moving average is $16.86. Acorn Energy has a 52-week low of $12.42 and a 52-week high of $33.00.

Acorn Energy (NASDAQ:ACFN) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.10 EPS for the quarter. Acorn Energy had a net margin of 52.80% and a return on equity of 34.58%.

Acorn Energy Company Profile

Acorn Energy, Inc, through its subsidiaries, develops and markets wireless remote monitoring and control systems for various markets in the United States and internationally. It operates through two segments, Power Generation (PG) Monitoring and Cathodic Protection (CP) Monitoring. The PG segment provides wireless remote monitoring and control systems, and services for critical assets, which include stand-by power generators, compressors, pumps, pumpjacks, light towers, turbines, and other industrial equipment; and Internet of Things applications.