Acorn Energy Stock Rating Upgraded by Thomson Reuters/Verus (ACFN)
Acorn Energy (NASDAQ:ACFN) was upgraded by investment analysts at Thomson Reuters/Verus from a “sell” rating to a “hold” rating in a note issued to investors on Monday, Stock Ratings Network reports.
Shares of Acorn Energy (NASDAQ:ACFN) traded down 30.97% during mid-day trading on Monday, hitting $3.41. 1,450,442 shares of the company’s stock traded hands. Acorn Energy has a 52 week low of $3.30 and a 52 week high of $9.90. The stock’s 50-day moving average is $5.98 and its 200-day moving average is $7.45. The company’s market cap is $61.7 million.
Acorn Energy (NASDAQ:ACFN) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.31) earnings per share for the quarter, missing the analysts’ 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 analysts have also recently weighed in on ACFN. Analysts at Barrington Research downgraded shares of Acorn Energy from an “outperform” rating to a “market perform” rating in a research note to investors on Monday. Separately, 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. Finally, analysts at Chardan Capital initiated coverage on shares of Acorn Energy in a research note to investors on Thursday, July 11th. They set a “buy” rating and a $14.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.00.
Acorn Energy, Inc (NASDAQ:ACFN) is a holding company.
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