Acorn Energy (NASDAQ:ACFN) Stock Price Up 5.5% – Here’s Why

Acorn Energy Inc. (NASDAQ:ACFN)’s stock price traded up 5.5% on Thursday . The stock traded as high as $18.28 and last traded at $18.28. 47,158 shares changed hands during trading, an increase of 29% from the average session volume of 36,617 shares. The stock had previously closed at $17.32.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ACFN. Wall Street Zen lowered shares of Acorn Energy from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Acorn Energy in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Acorn Energy presently has an average rating of “Hold”.

Acorn Energy Stock Up 5.5%

The company has a fifty day moving average price of $16.69. The stock has a market cap of $45.70 million, a P/E ratio of 6.90 and a beta of 0.10.

Acorn Energy (NASDAQ:ACFN) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.10 EPS for the quarter. Acorn Energy had a net margin of 52.80% and a return on equity of 34.58%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Northstar Group Inc. purchased a new stake in Acorn Energy in the 3rd quarter worth about $250,000. Access Investment Management LLC purchased a new position in Acorn Energy during the 3rd quarter valued at about $25,000. Finally, Citadel Advisors LLC acquired a new position in shares of Acorn Energy in the 3rd quarter valued at about $323,000.

Acorn Energy Company Profile

Acorn Energy, Inc, through its subsidiaries, develops and markets wireless remote monitoring and control systems for various markets in the United States and internationally. It operates through two segments, Power Generation (PG) Monitoring and Cathodic Protection (CP) Monitoring. The PG segment provides wireless remote monitoring and control systems, and services for critical assets, which include stand-by power generators, compressors, pumps, pumpjacks, light towers, turbines, and other industrial equipment; and Internet of Things applications.