Acorn Energy Inc. (NASDAQ:ACFN) Short Interest Down 14.0% in January

Acorn Energy Inc. (NASDAQ:ACFN) saw a significant decline in short interest in January. As of January 15th, there was short interest totaling 20,058 shares, a decline of 14.0% from the December 31st total of 23,315 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average daily volume of 50,191 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 50,191 shares, the days-to-cover ratio is presently 0.4 days. Approximately 1.2% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wall Street Zen downgraded Acorn Energy from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Acorn Energy in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Acorn Energy Trading Down 6.9%

Shares of ACFN stock opened at $16.50 on Wednesday. Acorn Energy has a fifty-two week low of $12.42 and a fifty-two week high of $33.00. The firm’s 50 day simple moving average is $16.92. The firm has a market capitalization of $41.25 million, a PE ratio of 6.23 and a beta of 0.17.

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

Institutional Trading of Acorn Energy

Several large investors have recently modified their holdings of ACFN. Access Investment Management LLC bought a new position in shares of Acorn Energy during the third quarter valued at approximately $25,000. Northstar Group Inc. acquired a new position in Acorn Energy during the 3rd quarter valued at approximately $250,000. Finally, Citadel Advisors LLC bought a new position in Acorn Energy during the 3rd quarter worth $323,000.

About Acorn Energy

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.