Wall Street Zen Upgrades Acorn Energy (NASDAQ:ACFN) to Hold

Acorn Energy (NASDAQ:ACFN) was upgraded by research analysts at Wall Street Zen to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Acorn Energy in a research report on Friday, August 7th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Acorn Energy Price Performance

Shares of ACFN stock opened at $19.03 on Friday. Acorn Energy has a 1-year low of $12.42 and a 1-year high of $32.00. The company has a market cap of $47.77 million, a price-to-earnings ratio of 31.20 and a beta of 0.24. The stock has a 50 day simple moving average of $18.88 and a 200-day simple moving average of $18.26.

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

Hedge Funds Weigh In On Acorn Energy

A hedge fund recently raised its stake in Acorn Energy stock. Geode Capital Management LLC boosted its holdings in shares of Acorn Energy Inc. (NASDAQ:ACFN) by 29.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,500 shares of the company’s stock after acquiring an additional 3,515 shares during the period. Geode Capital Management LLC owned 0.62% of Acorn Energy worth $234,000 at the end of the most recent reporting period.

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.