Acorn Energy (NASDAQ:ACFN) Stock Price Up 7% – Still a Buy?

Shares of Acorn Energy Inc. (NASDAQ:ACFN) traded up 7% during trading on Wednesday . The stock traded as high as $18.44 and last traded at $18.44. 29,801 shares traded hands during trading, an increase of 57% from the average session volume of 19,017 shares. The stock had previously closed at $17.23.

Analyst Ratings Changes

Several research firms have recently weighed in on ACFN. Wall Street Zen downgraded shares of Acorn Energy from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Acorn Energy in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Acorn Energy presently has a consensus rating of “Hold”.

Acorn Energy Stock Performance

The company has a 50 day moving average of $17.61. The company has a market cap of $46.10 million, a P/E ratio of 6.96 and a beta of 0.17.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Northstar Group Inc. bought a new stake in shares of Acorn Energy in the 3rd quarter valued at about $250,000. Access Investment Management LLC acquired a new position in Acorn Energy during the third quarter worth approximately $25,000. Citadel Advisors LLC acquired a new position in Acorn Energy during the third quarter worth approximately $323,000. Finally, Geode Capital Management LLC raised its stake 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 buying an additional 3,515 shares during the period.

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.