EnerNOC, Inc. (ENOC) Stock Rating Lowered by Zacks Investment Research
EnerNOC, Inc. (NASDAQ:ENOC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “ENERNOC, INC. is a leading developer and provider of clean and intelligent energy solutions to commercial, institutional, and industrial customers, as well as electric power grid operators and utilities. EnerNOC’s technology-enabled demand response and energy management solutions help optimize the balance of electric supply and demand. The Company uses its Network Operations Center, or NOC, to remotely manage and reduce electricity consumption across a network of commercial, institutional, and industrial customer sites and make demand response capacity and energy available to grid operators and utilities on demand. “
Several other brokerages have also commented on ENOC. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of EnerNOC in a research note on Wednesday, March 15th. Robert W. Baird lowered shares of EnerNOC from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $11.00 to $8.00 in a research note on Friday, June 23rd. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of EnerNOC in a research note on Friday, June 23rd. Finally, Canaccord Genuity reissued a “hold” rating and set a $7.67 price objective on shares of EnerNOC in a research report on Friday, June 23rd. Seven research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of $7.93.
EnerNOC (NASDAQ:ENOC) traded down 0.32% during trading on Tuesday, hitting $7.70. The stock had a trading volume of 343,881 shares. The company’s 50 day moving average is $5.93 and its 200 day moving average is $5.80. EnerNOC has a 52-week low of $4.80 and a 52-week high of $7.78. The firm’s market cap is $226.93 million.
EnerNOC (NASDAQ:ENOC) last announced its quarterly earnings results on Tuesday, May 9th. The business services provider reported ($0.92) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.36) by $0.44. EnerNOC had a negative net margin of 10.51% and a negative return on equity of 42.33%. The firm had revenue of $48.10 million for the quarter, compared to analyst estimates of $44.73 million. During the same period last year, the business earned ($1.41) EPS. EnerNOC’s revenue for the quarter was down 9.9% compared to the same quarter last year. Equities research analysts forecast that EnerNOC will post ($2.30) earnings per share for the current year.
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Several hedge funds have recently modified their holdings of ENOC. Nine Chapters Capital Management LLC purchased a new stake in shares of EnerNOC during the first quarter valued at $103,000. Nationwide Fund Advisors increased its stake in EnerNOC by 21.8% in the first quarter. Nationwide Fund Advisors now owns 23,592 shares of the business services provider’s stock worth $142,000 after buying an additional 4,223 shares in the last quarter. Wells Fargo & Company MN increased its stake in EnerNOC by 19.0% in the first quarter. Wells Fargo & Company MN now owns 28,861 shares of the business services provider’s stock worth $172,000 after buying an additional 4,611 shares in the last quarter. Tudor Investment Corp Et Al increased its stake in EnerNOC by 21.9% in the fourth quarter. Tudor Investment Corp Et Al now owns 29,297 shares of the business services provider’s stock worth $176,000 after buying an additional 5,256 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new stake in EnerNOC during the fourth quarter worth approximately $206,000. 49.64% of the stock is currently owned by institutional investors and hedge funds.
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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