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Echelon Corp. (NASDAQ:ELON) was downgraded by investment analysts at Needham & Company from a “buy” rating to a “hold” rating in a note issued to investors on Friday, reports.

Echelon Corp. (NASDAQ:ELON) opened at 3.16 on Friday. Echelon Corp. has a one year low of $1.99 and a one year 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 posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.08) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.06) earnings per share. Echelon Corp.’s revenue was down 23.9% compared to the same quarter last year. Analysts expect that Echelon Corp. will post $-0.37 EPS 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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