Acorn Energy (NASDAQ:ACFN) Releases Quarterly Earnings Results

Acorn Energy (NASDAQ:ACFN) released its earnings results on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, Zacks reports. Acorn Energy had a net margin of 54.10% and a return on equity of 57.23%.

Acorn Energy Trading Up 6.5%

Shares of ACFN stock opened at $15.13 on Friday. Acorn Energy has a fifty-two week low of $11.93 and a fifty-two week high of $33.00. The firm’s 50 day simple moving average is $26.45. The firm has a market capitalization of $37.84 million, a PE ratio of 5.33 and a beta of 0.09.

Analyst Upgrades and Downgrades

ACFN has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Acorn Energy from a “buy” rating to a “strong-buy” rating in a report on Sunday, October 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Acorn Energy in a research report on Thursday, October 30th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy”.

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.