Acorn Energy (NASDAQ:ACFN) Stock Price Down 0.1% – Should You Sell?

Acorn Energy Inc. (NASDAQ:ACFN)’s stock price traded down 0.1% on Thursday . The stock traded as low as $16.21 and last traded at $16.87. 16,076 shares changed hands during trading, an increase of 71% from the average session volume of 9,382 shares. The stock had previously closed at $16.89.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Acorn Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Acorn Energy presently has a consensus rating of “Hold”.

Acorn Energy Stock Up 0.8%

The stock has a market cap of $42.64 million, a P/E ratio of 22.08 and a beta of 0.29. The business has a 50-day simple moving average of $17.87 and a 200-day simple moving average of $17.46.

Acorn Energy (NASDAQ:ACFN) last announced its earnings results on Thursday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $2.23 million for the quarter. Acorn Energy had a return on equity of 16.20% and a net margin of 18.56%.

Institutional Investors Weigh In On Acorn Energy

A number of large investors have recently added to or reduced their stakes in ACFN. Citadel Advisors LLC bought a new stake in Acorn Energy during the third quarter worth approximately $323,000. Geode Capital Management LLC boosted its position in Acorn Energy by 29.3% during the fourth quarter. Geode Capital Management LLC now owns 15,500 shares of the company’s stock worth $234,000 after purchasing an additional 3,515 shares during the period. Finally, Access Investment Management LLC bought a new stake in Acorn Energy during the third quarter worth approximately $25,000.

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.