Echelon Corp. Downgraded to “Neutral” at Zacks (ELON)
Echelon Corp. (NASDAQ:ELON) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Wednesday, Analyst Ratings Network reports. They currently have a $2.70 target price on the stock. Zacks‘ target price points to a potential upside of 17.90% from the company’s current price.
A number of other firms have also recently commented on ELON. Analysts at Canaccord Genuity cut their price target on shares of Echelon Corp. from $3.50 to $3.00 in a research note to investors on Friday, August 9th. They now have a “hold” rating on the stock. Separately, analysts at Needham & Company cut their price target on shares of Echelon Corp. from $4.00 to $3.00 in a research note to investors on Friday, August 9th. They now have a “buy” rating on the stock. Finally, analysts at Wedbush cut their price target on shares of Echelon Corp. from $4.00 to $3.00 in a research note to investors on Thursday, August 1st. They now have a “neutral” rating on the stock.
Shares of Echelon Corp. (NASDAQ:ELON) traded down 3.06% during mid-day trading on Wednesday, hitting $2.22. The stock had a trading volume of 85,570 shares. Echelon Corp. has a 52 week low of $1.99 and a 52 week high of $3.99. The stock has a 50-day moving average of $2.20 and a 200-day moving average of $2.26. The company’s market cap is $96.0 million.
Echelon Corp. (NASDAQ:ELON) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.11. The company had revenue of $24.80 million for the quarter, compared to the consensus estimate of $24.43 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was down 37.7% on a year-over-year basis. On average, analysts predict that Echelon Corp. will post $-0.42 earnings per share for the current fiscal year.
Echelon Corporation (NASDAQ:ELON) develops, markets and supports an open standard, multi-application energy control networking platform.
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