Acorn Energy Inc. (NASDAQ:ACFN) Short Interest Update

Acorn Energy Inc. (NASDAQ:ACFN) was the recipient of 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. Currently, 0.6% of the company’s stock are sold short. Based on an average daily volume of 9,451 shares, the short-interest ratio is currently 1.1 days.

Institutional Investors Weigh In On Acorn Energy

A hedge fund recently raised its stake in Acorn Energy stock. Geode Capital Management LLC increased its stake in Acorn Energy Inc. (NASDAQ:ACFN) by 29.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 15,500 shares of the company’s stock after buying an additional 3,515 shares during the quarter. Geode Capital Management LLC owned 0.62% of Acorn Energy worth $234,000 at the end of the most recent quarter.

Acorn Energy Stock Performance

NASDAQ:ACFN opened at $19.43 on Wednesday. The firm has a market cap of $48.77 million, a price-to-earnings ratio of 31.85 and a beta of 0.24. Acorn Energy has a 52 week low of $12.42 and a 52 week high of $32.00. The firm has a 50-day moving average price of $18.02 and a two-hundred day moving average price of $18.08.

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

Analyst Ratings Changes

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

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.