EnerNOC Inc. (NASDAQ:ENOC) Given Average Recommendation of “Buy” by Brokerages
Shares of EnerNOC Inc. (NASDAQ:ENOC) have been assigned an average rating of “Buy” from the seven analysts that are currently covering the stock. Four analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $12.00.
ENOC has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target (down from $12.00) on shares of EnerNOC in a research report on Wednesday, August 3rd. Zacks Investment Research downgraded shares of EnerNOC from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Canaccord Genuity reiterated a “hold” rating and issued a $8.50 price target on shares of EnerNOC in a research report on Friday, June 24th. Finally, Credit Suisse Group AG cut shares of EnerNOC from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $10.00 to $8.00 in a research note on Tuesday, August 2nd.
EnerNOC (NASDAQ:ENOC) traded down 1.0055% on Tuesday, hitting $5.4051. The stock had a trading volume of 36,910 shares. EnerNOC has a 1-year low of $2.92 and a 1-year high of $9.79. The company’s 50 day moving average is $5.73 and its 200-day moving average is $6.67. The firm’s market capitalization is $156.65 million.
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Several hedge funds have recently bought and sold shares of the company. Summit Partners Public Asset Management LLC bought a new stake in EnerNOC during the first quarter worth $2,805,000. Jacobs Levy Equity Management Inc. bought a new stake in EnerNOC during the first quarter worth $2,293,000. Renaissance Technologies LLC boosted its stake in EnerNOC by 44.9% in the first quarter. Renaissance Technologies LLC now owns 645,038 shares of the company’s stock worth $4,825,000 after buying an additional 199,925 shares during the last quarter. Spark Investment Management LLC boosted its stake in EnerNOC by 384.6% in the second quarter. Spark Investment Management LLC now owns 207,400 shares of the company’s stock worth $1,310,000 after buying an additional 164,600 shares during the last quarter. Finally, Oaktop Capital Management II L.P. boosted its stake in EnerNOC by 7.2% in the first quarter. Oaktop Capital Management II L.P. now owns 1,718,641 shares of the company’s stock worth $12,855,000 after buying an additional 115,000 shares during the last quarter. 49.14% of the stock is currently owned by hedge funds and other institutional investors.
EnerNOC, Inc is a provider of energy intelligence software (EIS) and demand response solutions. The Company’s EIS provides enterprise solutions, utility solutions and energy procurement solutions. The Company’s EIS offers enterprise customers with a Software-as-a-Service (SaaS) solutions with various areas of functionalities, including energy cost visualization, budgets, forecasts and accruals; project tracking, and demand management.
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