Acorn Energy Stock Rating Lowered by Barrington Research (ACFN)
Acorn Energy (NASDAQ:ACFN) was downgraded by investment analysts at Barrington Research from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports.
Acorn Energy (NASDAQ:ACFN) traded down 24.69% during mid-day trading on Monday, hitting $3.7201. 957,845 shares of the company’s stock traded hands. Acorn Energy has a 52-week low of $4.84 and a 52-week high of $9.90. The stock has a 50-day moving average of $6.06 and a 200-day moving average of $7.47. The company’s market cap is $67.3 million.
Acorn Energy (NASDAQ:ACFN) last released its earnings data on Wednesday, August 7th. The company reported ($0.31) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.23) by $0.08. The company had revenue of $5.20 million for the quarter, compared to the consensus estimate of $6.60 million. Analysts expect that Acorn Energy will post $-1.01 EPS for the current fiscal year.
A number of other firms have also recently commented on ACFN. Analysts at Thomson Reuters/Verus downgraded shares of Acorn Energy from a “hold” rating to a “sell” rating in a research note to investors on Monday, September 2nd. Finally, analysts at Maxim Group downgraded shares of Acorn Energy from a “buy” rating to a “hold” rating in a research note to investors on Friday, August 9th. They now have a $12.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $13.00.
Acorn Energy, Inc (NASDAQ:ACFN) is a holding company.
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