Acorn Energy Inc. (NASDAQ:ACFN) Short Interest Up 150.8% in August

Acorn Energy Inc. (NASDAQ:ACFN) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 21,269 shares, a growth of 150.8% from the August 15th total of 8,481 shares. Based on an average daily trading volume, of 49,251 shares, the days-to-cover ratio is presently 0.4 days. Approximately 1.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Acorn Energy stock. Geode Capital Management LLC increased its stake in Acorn Energy Inc. (NASDAQ:ACFN) by 29.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,500 shares of the company’s stock after acquiring an additional 3,515 shares during the quarter. Geode Capital Management LLC owned approximately 0.62% of Acorn Energy worth $234,000 at the end of the most recent reporting period.

Acorn Energy Stock Down 1.9%

Shares of NASDAQ:ACFN traded down $0.41 during trading on Monday, reaching $21.20. 2,413 shares of the company’s stock traded hands, compared to its average volume of 27,462. Acorn Energy has a fifty-two week low of $12.42 and a fifty-two week high of $31.88. The firm has a market cap of $53.21 million, a PE ratio of 34.75 and a beta of 0.24. The company has a 50-day simple moving average of $19.18 and a 200-day simple moving average of $18.36.

Acorn Energy (NASDAQ:ACFN) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.12 earnings per share for the quarter. The company had revenue of $2.49 million during the quarter. Acorn Energy had a return on equity of 10.06% and a net margin of 16.12%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Acorn Energy in a report on Friday, August 7th. Wall Street Zen raised shares of Acorn Energy to a “hold” rating in a report on Saturday, September 5th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

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.