Canaccord Genuity Increases Echelon Corp. Price Target to $4.50 (ELON)
Stock analysts at Canaccord Genuity hoisted their price objective on shares of Echelon Corp. (NASDAQ:ELON) from $3.00 to $4.50 in a report issued on Friday, Analyst Ratings Net reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price objective suggests a potential upside of 18.73% from the stock’s previous close.
Separately, analysts at Needham & Company downgraded shares of Echelon Corp. from a “buy” rating to a “hold” rating in a research note to investors on Friday.
Shares of Echelon Corp. (NASDAQ:ELON) traded down 16.62% during mid-day trading on Friday, hitting $3.16. The stock had a trading volume of 1,060,304 shares. Echelon Corp. has a 52 week low of $1.99 and a 52 week high of $4.18. The stock has a 50-day moving average of $2.81 and a 200-day moving average of $2.36. The company’s market cap is $136.9 million.
Echelon Corp. (NASDAQ:ELON) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.04. The company had revenue of $18.10 million for the quarter, compared to the consensus estimate of $17.31 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was down 23.9% on a year-over-year basis. On average, analysts predict that Echelon Corp. will post $-0.37 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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