Acorn Energy (NASDAQ:ACFN) Trading Down 0.1% – Here’s What Happened

Acorn Energy Inc. (NASDAQ:ACFN)’s stock price dropped 0.1% on Friday . The stock traded as low as $18.22 and last traded at $18.22. Approximately 6,312 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 21,470 shares. The stock had previously closed at $18.24.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Acorn Energy in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Acorn Energy Stock Down 0.1%

The stock has a fifty day moving average of $18.53 and a 200-day moving average of $19.25. The stock has a market capitalization of $45.73 million, a price-to-earnings ratio of 18.40 and a beta of 0.19.

Hedge Funds Weigh In On Acorn Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Access Investment Management LLC acquired a new position in Acorn Energy in the third quarter valued at approximately $25,000. Geode Capital Management LLC boosted its holdings in shares of 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 period. Northstar Group Inc. acquired a new stake in shares of Acorn Energy in the third quarter valued at approximately $250,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Acorn Energy in the third quarter valued at approximately $323,000.

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.