Acorn Energy (NASDAQ:ACFN) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Acorn Energy (NASDAQ:ACFN) from a hold rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Acorn Energy in a research note on Wednesday. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Acorn Energy Stock Up 0.7%

Shares of NASDAQ ACFN opened at $14.63 on Friday. The stock has a market cap of $36.72 million, a PE ratio of 16.63 and a beta of 0.41. Acorn Energy has a 52-week low of $12.42 and a 52-week high of $23.75. The business has a 50-day moving average price of $18.91 and a 200 day moving average price of $18.38.

Acorn Energy (NASDAQ:ACFN) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.37 earnings per share for the quarter. The business had revenue of $2.59 million during the quarter. Acorn Energy had a return on equity of 17.73% and a net margin of 23.04%.

Acorn Energy Company Profile

Acorn Energy, Inc is a technology company focused on energy infrastructure management and remote monitoring solutions. Through its operating businesses, the company develops systems that help customers monitor, control and maintain distributed energy assets and other critical infrastructure.

Acorn Energy’s principal operating business is OmniMetrix, which provides remote monitoring and control solutions for backup power generators and cathodic protection systems. Its products use communications networks and cloud-based software to provide alerts, operating information and other data intended to help customers improve equipment reliability, maintenance and regulatory compliance.

The company serves customers in markets that include telecommunications, data centers, utilities, commercial and industrial facilities, healthcare and other organizations that depend on backup power or infrastructure protection.