Short Interest in Acorn Energy Inc. (NASDAQ:ACFN) Decreases By 14.0%

Acorn Energy Inc. (NASDAQ:ACFN) saw a significant drop in short interest in January. As of January 15th, there was short interest totaling 20,058 shares, a drop of 14.0% from the December 31st total of 23,315 shares. Currently, 1.2% of the company’s stock are short sold. Based on an average trading volume of 50,191 shares, the short-interest ratio is presently 0.4 days. Based on an average trading volume of 50,191 shares, the short-interest ratio is presently 0.4 days. Currently, 1.2% of the company’s stock are short sold.

Acorn Energy Stock Performance

Shares of NASDAQ:ACFN opened at $16.48 on Thursday. Acorn Energy has a 52-week low of $12.42 and a 52-week high of $33.00. The stock has a market capitalization of $41.20 million, a PE ratio of 6.22 and a beta of 0.17. The business has a 50-day moving average price of $16.97.

Acorn Energy (NASDAQ:ACFN) last issued its earnings results on Thursday, November 6th. The company reported $0.10 EPS for the quarter. Acorn Energy had a return on equity of 34.58% and a net margin of 52.80%.

Hedge Funds Weigh In On Acorn Energy

Institutional investors have recently modified their holdings of the stock. Access Investment Management LLC acquired a new position in shares of Acorn Energy during the 3rd quarter worth approximately $25,000. Northstar Group Inc. purchased a new stake in Acorn Energy in the 3rd quarter worth $250,000. Finally, Citadel Advisors LLC purchased a new stake in Acorn Energy in the 3rd quarter worth $323,000.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ACFN. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Acorn Energy in a research report on Monday, December 29th. Wall Street Zen lowered Acorn Energy from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

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.