Acorn Energy (NASDAQ:ACFN) Shares Down 1.8% – What’s Next?

Acorn Energy Inc. (NASDAQ:ACFN)’s stock price traded down 1.8% during mid-day trading on Thursday . The company traded as low as $16.23 and last traded at $16.23. 13,402 shares traded hands during mid-day trading, an increase of 64% from the average daily volume of 8,192 shares. The stock had previously closed at $16.52.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Acorn Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Acorn Energy Stock Down 1.8%

The firm has a market cap of $40.74 million, a price-to-earnings ratio of 21.08 and a beta of 0.24. The firm has a fifty day moving average price of $17.22 and a 200-day moving average price of $17.73.

Acorn Energy (NASDAQ:ACFN) last released its earnings results on Thursday, May 7th. The company reported ($0.03) EPS for the quarter. Acorn Energy had a net margin of 18.56% and a return on equity of 16.20%. The business had revenue of $2.23 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Acorn Energy stock. Citadel Advisors LLC acquired a new stake in shares of Acorn Energy Inc. (NASDAQ:ACFN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,282 shares of the company’s stock, valued at approximately $323,000. Citadel Advisors LLC owned about 0.45% of Acorn Energy at the end of the most recent reporting period.

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.