Insider Buying: Acorn Energy CFO Acquires 3,500 Shares of Stock (ACFN)
Acorn Energy (NASDAQ:ACFN) CFO Michael Barth acquired 3,500 shares of Acorn Energy stock on the open market in a transaction that occurred on Thursday, October 17th. The stock was purchased at an average price of $2.85 per share, with a total value of $9,975.00. Following the purchase, the chief financial officer now directly owns 38,044 shares of the company’s stock, valued at approximately $108,425. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
ACFN has been the subject of a number of recent research reports. Analysts at UBS AG downgraded shares of Acorn Energy from an “outperform” rating to a “market perform” rating in a research note to investors on Monday, October 7th. Separately, analysts at Thomson Reuters/Verus upgraded shares of Acorn Energy from a “sell” rating to a “hold” rating in a research note to investors on Monday, October 7th. Finally, 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, October 7th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $13.00.
Shares of Acorn Energy (NASDAQ:ACFN) traded down 2.10% on Friday, hitting $3.26. 201,570 shares of the company’s stock traded hands. Acorn Energy has a 52-week low of $2.85 and a 52-week high of $9.90. The stock’s 50-day moving average is $5.41 and its 200-day moving average is $7.23. The company’s market cap is $59.0 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 $-1.04 EPS for the current fiscal year.
Acorn Energy, Inc (NASDAQ:ACFN) is a holding company.
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