Acorn Energy Inc. (NASDAQ:ACFN) Short Interest Up 15.3% in February

Acorn Energy Inc. (NASDAQ:ACFN) was the recipient of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 25,565 shares, a growth of 15.3% from the February 12th total of 22,169 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily volume of 13,732 shares, the days-to-cover ratio is currently 1.9 days. Based on an average daily volume of 13,732 shares, the days-to-cover ratio is currently 1.9 days. Approximately 1.6% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

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

Institutional Trading of Acorn Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACFN. Geode Capital Management LLC grew its position in shares of Acorn Energy by 29.3% in the 4th 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. Citadel Advisors LLC bought a new stake in shares of Acorn Energy in the 3rd quarter valued at about $323,000. Northstar Group Inc. bought a new stake in shares of Acorn Energy in the 3rd quarter valued at about $250,000. Finally, Access Investment Management LLC acquired a new stake in Acorn Energy in the 3rd quarter valued at about $25,000.

Acorn Energy Stock Performance

ACFN stock opened at $19.97 on Tuesday. The company has a 50 day moving average of $18.89. The company has a market capitalization of $50.12 million, a P/E ratio of 20.17 and a beta of 0.14. Acorn Energy has a twelve month low of $12.42 and a twelve month high of $33.00.

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.