Acorn Energy Inc. (NASDAQ:ACFN) Short Interest Up 150.8% in August

Acorn Energy Inc. (NASDAQ:ACFN) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 21,269 shares, an increase of 150.8% from the August 15th total of 8,481 shares. Based on an average daily volume of 49,251 shares, the short-interest ratio is presently 0.4 days. Currently, 1.3% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research firms recently commented on ACFN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Acorn Energy in a report on Friday, August 7th. Wall Street Zen raised shares of Acorn Energy to a “hold” rating in a report on Saturday, September 5th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Acorn Energy currently has a consensus rating of “Hold”.

Acorn Energy Stock Performance

NASDAQ ACFN traded down $0.15 during trading hours on Tuesday, hitting $20.45. The company had a trading volume of 4,011 shares, compared to its average volume of 27,407. The firm has a market capitalization of $51.33 million, a price-to-earnings ratio of 33.52 and a beta of 0.24. Acorn Energy has a 52 week low of $12.42 and a 52 week high of $31.88. The firm has a 50 day simple moving average of $19.25 and a 200 day simple moving average of $18.38.

Acorn Energy (NASDAQ:ACFN) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.12 earnings per share for the quarter. Acorn Energy had a return on equity of 10.06% and a net margin of 16.12%.The firm had revenue of $2.49 million for the quarter.

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.