EnerNOC, Inc. (ENOC) Lowered to “Hold” at Needham & Company LLC
EnerNOC, Inc. (NASDAQ:ENOC) was downgraded by research analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, Marketbeat reports.
A number of other brokerages also recently weighed in on ENOC. Zacks Investment Research raised EnerNOC from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Tuesday, May 16th. Robert W. Baird downgraded EnerNOC from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $11.00 to $8.00 in a report on Friday. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of EnerNOC in a report on Friday. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $7.67 target price on shares of EnerNOC in a report on Friday. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $7.93.
Shares of EnerNOC (NASDAQ:ENOC) remained flat at $7.65 during mid-day trading on Monday. 317,359 shares of the company’s stock were exchanged. EnerNOC has a 1-year low of $4.80 and a 1-year high of $7.74. The firm’s 50-day moving average is $5.55 and its 200 day moving average is $5.72. The stock’s market capitalization is $225.45 million.
EnerNOC (NASDAQ:ENOC) last issued its earnings results on Tuesday, May 9th. The business services provider reported ($0.92) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.36) by $0.44. The firm had revenue of $48.10 million for the quarter, compared to the consensus estimate of $44.73 million. EnerNOC had a negative return on equity of 42.33% and a negative net margin of 10.51%. The company’s revenue was down 9.9% compared to the same quarter last year. During the same quarter last year, the business posted ($1.41) EPS. On average, analysts anticipate that EnerNOC will post ($2.30) earnings per share for the current year.
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Several large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in EnerNOC during the fourth quarter valued at $1,254,000. Renaissance Technologies LLC increased its stake in EnerNOC by 20.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,200,338 shares of the business services provider’s stock valued at $7,202,000 after buying an additional 200,138 shares during the period. Dimensional Fund Advisors LP increased its stake in EnerNOC by 11.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,358,931 shares of the business services provider’s stock valued at $8,153,000 after buying an additional 142,450 shares during the period. Vanguard Group Inc. increased its stake in EnerNOC by 8.7% in the first quarter. Vanguard Group Inc. now owns 1,235,705 shares of the business services provider’s stock valued at $7,414,000 after buying an additional 98,923 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in EnerNOC by 72.0% in the first quarter. Parametric Portfolio Associates LLC now owns 203,100 shares of the business services provider’s stock valued at $1,219,000 after buying an additional 85,036 shares during the period. 49.91% of the stock is currently owned by 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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