Acorn Energy (NASDAQ:ACFN) Stock Price Down 1.8% – Time to Sell?

Acorn Energy Inc. (NASDAQ:ACFN)’s stock price traded down 1.8% during trading on Thursday . The company traded as low as $16.23 and last traded at $16.23. 13,402 shares were traded during mid-day trading, an increase of 64% from the average session volume of 8,192 shares. The stock had previously closed at $16.52.

Analyst Ratings Changes

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 research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Acorn Energy Stock Up 6.2%

The company has a market capitalization of $43.27 million, a price-to-earnings ratio of 22.39 and a beta of 0.24. The company has a 50 day simple moving average of $17.19 and a 200 day simple moving average of $17.73.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Acorn Energy stock. Geode Capital Management LLC grew 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 disclosure with the Securities & Exchange Commission. The firm owned 15,500 shares of the company’s stock after buying an additional 3,515 shares during the quarter. Geode Capital Management LLC owned 0.62% of Acorn Energy worth $234,000 at the end of the most recent quarter.

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.