EnerNOC, Inc. (ENOC) Sees Large Decline in Short Interest
EnerNOC, Inc. (NASDAQ:ENOC) was the recipient of a large drop in short interest in June. As of June 30th, there was short interest totalling 782,975 shares, a drop of 54.0% from the June 15th total of 1,700,728 shares. Based on an average daily volume of 1,150,851 shares, the days-to-cover ratio is currently 0.7 days. Approximately 3.2% of the company’s stock are short sold.
Shares of EnerNOC (NASDAQ ENOC) opened at 7.725 on Monday. EnerNOC has a 12 month low of $4.80 and a 12 month high of $7.78. The firm’s 50-day moving average price is $5.93 and its 200-day moving average price is $5.80. The firm’s market cap is $227.66 million.
EnerNOC (NASDAQ:ENOC) last released its quarterly earnings data on Tuesday, May 9th. The business services provider reported ($0.92) earnings per share (EPS) for the quarter, beating the 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 company had revenue of $48.10 million during the quarter, compared to the consensus estimate of $44.73 million. During the same quarter in the prior year, the firm posted ($1.41) earnings per share. EnerNOC’s revenue for the quarter was down 9.9% on a year-over-year basis. Analysts expect that EnerNOC will post ($2.33) earnings per share for the current year.
A number of analysts have recently weighed in on the company. Zacks Investment Research cut EnerNOC from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of EnerNOC in a research report on Friday, June 23rd. Robert W. Baird cut EnerNOC from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $11.00 to $8.00 in a research report on Friday, June 23rd. Canaccord Genuity reissued a “hold” rating and issued a $7.67 price objective on shares of EnerNOC in a research report on Friday, June 23rd. Finally, Needham & Company LLC cut EnerNOC from a “buy” rating to a “hold” rating in a research report on Monday, June 26th. Seven research analysts have rated the stock with a hold rating, EnerNOC currently has an average rating of “Hold” and an average target price of $7.93.
Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in EnerNOC by 1.0% in the fourth quarter. State Street Corp now owns 459,670 shares of the business services provider’s stock valued at $2,756,000 after buying an additional 4,523 shares in the last quarter. Renaissance Technologies LLC increased its position 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 in the last quarter. A.R.T. Advisors LLC bought a new position in EnerNOC during the fourth quarter valued at about $206,000. Two Sigma Investments LP bought a new position in EnerNOC during the fourth quarter valued at about $244,000. Finally, Tudor Investment Corp Et Al increased its position 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 valued at $176,000 after buying an additional 5,256 shares in the last quarter. Institutional investors own 49.64% of the company’s stock.
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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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