Acorn Energy (NASDAQ:ACFN) Posts Quarterly Earnings Results

Acorn Energy (NASDAQ:ACFN) announced its quarterly earnings results on Thursday. The company reported $0.10 EPS for the quarter, Zacks reports. Acorn Energy had a net margin of 54.10% and a return on equity of 57.23%.

Acorn Energy Stock Up 6.5%

Shares of ACFN stock traded up $0.93 on Friday, reaching $15.13. 95,344 shares of the company’s stock were exchanged, compared to its average volume of 13,319. The business has a fifty day moving average of $26.71. Acorn Energy has a 52 week low of $11.93 and a 52 week high of $33.00. The company has a market cap of $37.84 million, a PE ratio of 5.33 and a beta of 0.09.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ACFN. Weiss Ratings restated a “buy (b)” rating on shares of Acorn Energy in a research report on Thursday, October 30th. Wall Street Zen raised Acorn Energy from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 19th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy”.

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.