Acorn Energy (NASDAQ:ACFN) Announces Earnings Results

Acorn Energy (NASDAQ:ACFN) issued its earnings results on Thursday. The company reported $0.14 earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $2.38 million during the quarter. Acorn Energy had a net margin of 52.80% and a return on equity of 34.58%.

Acorn Energy Trading Up 11.8%

Shares of ACFN stock traded up $2.16 during trading hours on Friday, reaching $20.48. The company had a trading volume of 16,664 shares, compared to its average volume of 29,511. The business has a fifty day moving average of $18.31. Acorn Energy has a one year low of $12.42 and a one year high of $33.00. The firm has a market capitalization of $51.20 million, a price-to-earnings ratio of 7.73 and a beta of 0.14.

Institutional Investors Weigh In On Acorn Energy

A hedge fund recently raised its stake in Acorn Energy stock. Geode Capital Management LLC boosted its stake in Acorn Energy Inc. (NASDAQ:ACFN) by 29.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,500 shares of the company’s stock after purchasing an additional 3,515 shares during the period. Geode Capital Management LLC owned approximately 0.62% of Acorn Energy worth $234,000 at the end of the most recent quarter.

Analyst Upgrades and Downgrades

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