ACFN,
Up 4.8% to 8.74.
It was already 13.20 high.
I found this newsletter report on ACFN from Vista Partners with a target of 14.
Acorn Energy, Inc. (NasdaqGM: ACFN)
Current Price: $8.34
Target Price: $14.00
Acorn Energy, Inc.’s (the “Company” or “ACFN”) share price is up 79% since we initiated coverage in September 2011 (not including dividend payments). John and I visited US Seismic Systems, Inc. (USSI), a subsidiary of ACFN on May 9th at their headquarters in Woodland Hills for their analyst day which was well attended. We came away impressed and excited regarding both the revenue potential for USSI and also the enormous size of the markets they intend to serve. The Company remains steadfast by its statement made on earnings calls that USSI will announce commercial orders by the end of the second quarter, June 30, 2012.
Jim Andersen, Founder and President of USSI, testified on May 10, 2012 at the United States House of Representatives' Science, Space, and Technology Subcommittee on Energy & Environment hearing titled "Supporting American Jobs and the Economy Through Expanded Energy Production: Challenges and Opportunities of Unconventional Resources Technology." The purpose of this hearing was to examine both the challenges and opportunities associated with expanding development and use of unconventional oil and gas production technologies. Mr. Andersen gave an overview of USSI Fiber Optic Sensing Technology and its potential impact to both enhance oil and gas recovery and improve environmental monitoring to better ensure safe and responsible production.
OmniMetrix, LLC, an Acorn Energy company, made its 5th appearance at the International CTIA Wireless in New Orleans, LA., May 8-10, 2012. OmniMetrix introduced their new 4G enabled product lines for generator monitoring control. By developing 4G enabled devices now, customers will be safely transitioned to the latest technology long before legacy systems are phased out. The industry unique pricing structures they have developed for their G8500 products that monitor emergency generator systems are turning residential & industrial consumers into lasting customers.
On May 10, 2012, Acorn announced the results for the first quarter ended March 31, 2012. John Moore, CEO of Acorn Energy, stated, "The first quarter of 2012 set the stage for another exciting year for Acorn Energy. We continue to focus on applying innovative technologies to make the huge world-wide energy infrastructure cleaner, safer, cheaper and more reliable. At the same time alternative energy has attracted great attention and capital. More recently, for a number of very logical and practical reasons, the alternative energy noise has quieted, and the Acorn thesis of getting more out of what we have'is gaining traction. The recent economic viability of huge new oil and gas reserves through horizontal drilling and fracking technologies underscores a simple fact: the U.S. use of fossil fuels cannot be meaningfully reduced by alternative energies within the next two or three decades.”
Acorn Energy attended the Las Vegas Money Show on May 14-17 where CEO, John A. Moore gave a presentation. His presentation, "The Surprising Transformation of Our Energy Structure, Which Will Drive the Next Era of Prosperity" offered his insight into Digital Energy and comment on notable contrasts with both wind and solar energy. Please visit www.acornenergy.com to view additional commentary.
DSIT exhibited the company's underwater security systems and other sonar and acoustic solutions at the Undersea Defence Technologies (UDT) Conference and Exhibition in Alicante, Spain (May 29 – 31, 2012). The company viewed UDT as an important venue for reaching decision makers in fields related to undersea defense and security; and has been an exhibitor at this event for the last several years.
John Moore presented at the Barrington Research Industrial & Business Services Conference on Tuesday, May 15 in Chicago, IL. Acorn Energy presented at the 3rd Annual Benchmark Company, LLC One-on-One Investor Conference Thursday, May 31, 2012 in Milwaukee, WI. The Company attended the SeeThruEquity First Annual Small Cap Investor Conference on Tuesday, June 5, 2012 at The Cornell Club in New York City. The Company is presenting at the 10th Annual Ardour Capital Energy Technology Conference. The conference is in New York City from June 7-8, 2012.
GridSense, an Acorn Energy, Inc. (ACFN) company, previewed Grid InSite™, its new software platform, at the Municipal Smart Grid Summit in San Diego, June 4-6. Grid InSite™ will provide utilities with a powerful grid optimization system that seamlessly integrates GridSense sensors and intelligent nodes to enable monitoring and control of transmission and distribution assets.
Acorn offers a quarterly dividend of $0.035 per share. The dividend helps to make Acorn a very compelling investment opportunity considering the Company has successfully sold two portfolio companies validating its model and is paying a quarterly dividend to shareholders which mitigates some of the risk. The Company’s portfolio consists of 'capital–light' businesses with high or potentially high margins and first mover advantages in what could be billion dollar markets.
For additional information on Acorn Energy, Inc. please download our free update of coverage report dated February 22, 2012; the report is available on our website: www.vistapglobal.com.
