Acorn Energy Inc. (NASDAQ:ACFN) Sees Significant Growth in Short Interest

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

Acorn Energy Stock Up 3.1%

Acorn Energy stock traded up $0.64 during mid-day trading on Friday, hitting $21.61. 97,151 shares of the company were exchanged, compared to its average volume of 64,826. Acorn Energy has a 1-year low of $12.42 and a 1-year high of $31.88. The company has a market capitalization of $54.24 million, a PE ratio of 35.43 and a beta of 0.24. The business has a fifty day moving average of $19.18 and a 200 day moving average of $18.35.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ACFN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Acorn Energy in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Acorn Energy to a “hold” rating in a research note on Saturday, September 5th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Acorn Energy has an average rating of “Hold”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Acorn Energy stock. Citadel Advisors LLC purchased a new stake in shares of Acorn Energy Inc. (NASDAQ:ACFN) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,282 shares of the company’s stock, valued at approximately $323,000. Citadel Advisors LLC owned about 0.45% of Acorn Energy at the end of the most recent reporting period.

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.