Acorn Energy Inc. (NASDAQ:ACFN) Short Interest Update

Acorn Energy Inc. (NASDAQ:ACFN) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totaling 15,512 shares, a drop of 42.2% from the April 30th total of 26,853 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily volume of 10,971 shares, the days-to-cover ratio is currently 1.4 days.

Acorn Energy Trading Up 0.5%

Shares of ACFN stock traded up $0.10 during trading hours on Tuesday, hitting $17.44. 3,041 shares of the company’s stock were exchanged, compared to its average volume of 10,000. The company has a market capitalization of $43.73 million, a PE ratio of 22.48 and a beta of 0.29. Acorn Energy has a 12-month low of $12.42 and a 12-month high of $33.00. The business’s 50 day simple moving average is $17.84 and its 200-day simple moving average is $17.48.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Access Investment Management LLC bought a new position in shares of Acorn Energy in the third quarter worth approximately $25,000. Geode Capital Management LLC grew its holdings in shares of Acorn Energy by 29.3% in the fourth quarter. Geode Capital Management LLC now owns 15,500 shares of the company’s stock worth $234,000 after purchasing an additional 3,515 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of Acorn Energy in the third quarter worth approximately $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.