Acorn Energy Inc. (NASDAQ:ACFN) Short Interest Down 45.4% in July

Acorn Energy Inc. (NASDAQ:ACFN) saw a large decline in short interest in July. As of July 31st, there was short interest totaling 10,057 shares, a decline of 45.4% from the July 15th total of 18,420 shares. Based on an average daily volume of 9,451 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.6% of the shares of the company are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Acorn Energy stock. Geode Capital Management LLC grew its stake in shares of Acorn Energy Inc. (NASDAQ:ACFN) by 29.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,500 shares of the company’s stock after acquiring an additional 3,515 shares during the period. Geode Capital Management LLC owned about 0.62% of Acorn Energy worth $234,000 at the end of the most recent reporting period.

Acorn Energy Stock Up 0.4%

NASDAQ:ACFN opened at $19.48 on Tuesday. Acorn Energy has a fifty-two week low of $12.42 and a fifty-two week high of $32.00. The stock has a market cap of $48.89 million, a PE ratio of 31.93 and a beta of 0.24. The firm’s fifty day simple moving average is $17.95 and its 200-day simple moving average is $18.07.

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

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Acorn Energy in a research note on Friday, August 7th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Acorn Energy presently has a consensus rating of “Hold”.

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.