Acorn Energy (NASDAQ:ACFN) Stock Rating Raised to “Buy” at Wall Street Zen

Acorn Energy (NASDAQ:ACFN) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Acorn Energy in a report on Wednesday. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Acorn Energy Trading Up 0.7%

Shares of NASDAQ ACFN opened at $14.63 on Friday. The company has a market cap of $36.72 million, a PE ratio of 16.63 and a beta of 0.41. Acorn Energy has a 12-month low of $12.42 and a 12-month high of $23.75. The stock has a 50 day simple moving average of $18.91 and a 200-day simple moving average of $18.38.

Acorn Energy (NASDAQ:ACFN) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.37 earnings per share for the quarter. The business had revenue of $2.59 million during the quarter. Acorn Energy had a return on equity of 10.06% and a net margin of 16.12%.

About Acorn Energy

Acorn Energy, Inc is a technology company focused on energy infrastructure management and remote monitoring solutions. Through its operating businesses, the company develops systems that help customers monitor, control and maintain distributed energy assets and other critical infrastructure.

Acorn Energy’s principal operating business is OmniMetrix, which provides remote monitoring and control solutions for backup power generators and cathodic protection systems. Its products use communications networks and cloud-based software to provide alerts, operating information and other data intended to help customers improve equipment reliability, maintenance and regulatory compliance.

The company serves customers in markets that include telecommunications, data centers, utilities, commercial and industrial facilities, healthcare and other organizations that depend on backup power or infrastructure protection.