Insider Buying: Andy Sassine Buys 232,684 Shares of Acorn Energy Stock (ACFN)
Acorn Energy (NASDAQ:ACFN) Director Andy Sassine acquired 232,684 shares of the company’s stock on the open market in a transaction dated Thursday, June 5th. The stock was purchased at an average cost of $1.73 per share, with a total value of $402,543.32. Following the acquisition, the director now directly owns 575,662 shares in the company, valued at approximately $995,895. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on ACFN. Analysts at Maxim Group cut their price target on shares of Acorn Energy from $6.00 to $5.00 in a research note on Wednesday, May 14th. They now have a “buy” rating on the stock. Analysts at Chardan Capital downgraded shares of Acorn Energy from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 13th. They now have a $8.00 price target on the stock.
Acorn Energy (NASDAQ:ACFN) traded up 15.38% during mid-day trading on Friday, hitting $1.95. 1,408,774 shares of the company’s stock traded hands. Acorn Energy has a 1-year low of $1.35 and a 1-year high of $9.90. The stock’s 50-day moving average is $1.97 and its 200-day moving average is $3.18. The company’s market cap is $43.3 million.
Acorn Energy (NASDAQ:ACFN) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.19) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.18) by $0.01. On average, analysts predict that Acorn Energy will post $-0.54 earnings per share for the current fiscal year.
Acorn Energy, Inc (NASDAQ:ACFN) is a holding company.
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