Acorn Energy (NASDAQ:ACFN) Announces Quarterly Earnings Results

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

Acorn Energy Trading Up 6.5%

NASDAQ:ACFN traded up $0.93 during midday trading on Friday, reaching $15.13. The stock had a trading volume of 95,317 shares, compared to its average volume of 13,318. The stock has a market cap of $37.84 million, a PE ratio of 5.33 and a beta of 0.09. The business’s fifty day simple moving average is $26.71. Acorn Energy has a 12-month low of $11.93 and a 12-month high of $33.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ACFN shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Acorn Energy in a research note on Thursday, October 30th. Wall Street Zen upgraded shares of Acorn Energy from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 19th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

About Acorn Energy

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.