Acorn Energy (NASDAQ:ACFN) Cut to “Hold” at Wall Street Zen

Acorn Energy (NASDAQ:ACFN) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “hold” rating in a report released on Saturday.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Acorn Energy in a report on Thursday, October 30th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Acorn Energy currently has an average rating of “Buy”.

Acorn Energy Stock Performance

NASDAQ:ACFN traded up $0.93 during mid-day trading on Friday, hitting $15.13. The stock had a trading volume of 95,344 shares, compared to its average volume of 13,319. Acorn Energy has a twelve month low of $11.93 and a twelve month high of $33.00. The firm has a market cap of $37.84 million, a PE ratio of 5.33 and a beta of 0.09. The stock has a 50 day simple moving average of $26.45.

Acorn Energy (NASDAQ:ACFN) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.10 earnings per share for the quarter. Acorn Energy had a return on equity of 57.23% and a net margin of 54.10%.

Institutional Investors Weigh In On Acorn Energy

A hedge fund recently bought a new stake in Acorn Energy stock. Access Investment Management LLC bought a new stake in Acorn Energy Inc. (NASDAQ:ACFN) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 880 shares of the company’s stock, valued at approximately $25,000.

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.