Short Interest in Acorn Energy Inc. (NASDAQ:ACFN) Declines By 42.2%

Acorn Energy Inc. (NASDAQ:ACFN) was the recipient of a large decline in short interest during the month of May. As of May 15th, there was short interest totaling 15,512 shares, a decline of 42.2% from the April 30th total of 26,853 shares. Based on an average daily volume of 10,971 shares, the short-interest ratio is presently 1.4 days. Approximately 1.0% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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

Acorn Energy Trading Up 2.7%

Shares of NASDAQ:ACFN opened at $17.07 on Thursday. The firm has a market cap of $42.85 million, a price-to-earnings ratio of 22.22 and a beta of 0.24. The stock’s 50-day moving average price is $17.77 and its two-hundred day moving average price is $17.51. Acorn Energy has a 12-month low of $12.42 and a 12-month high of $33.00.

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

Hedge Funds Weigh In On Acorn Energy

A number of hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC acquired a new stake in shares of Acorn Energy during the 3rd quarter worth $323,000. Geode Capital Management LLC boosted its holdings in Acorn Energy by 29.3% in the fourth quarter. Geode Capital Management LLC now owns 15,500 shares of the company’s stock valued at $234,000 after acquiring an additional 3,515 shares during the last quarter. Finally, Access Investment Management LLC acquired a new position in Acorn Energy in the third quarter valued at $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.