Acorn Energy's US Seismic: Priced To Buy For Long Term Gains
Thu, Apr. 21, 10:25 AM
- Acorn Energy (OTCQB:ACFN +49.1%) has completed the previously announced sale of nearly 50% of its 79% fully diluted interest in DSIT Solutions, its underwater detection systems business, to Israel's Rafael Advanced Defense Systems, realizing gross proceeds of approximately $4.9M (excluding escrow and taxes).
- Acorn will host a conference call at 1:00 p.m. ET to introduce Acorn's new CEO Jan Loeb and to discuss its refocused business strategy and its decision to partner with Rafael.
Thu, Jan. 28, 2:08 PM
- Acorn Energy (OTCQB:ACFN +21.1%) says CEO John Moore is resigning to pursue entrepreneurial interests, and appoints Jan Loeb as the new CEO.
- Loeb has served as a director since August 2015; Moore has been the company's President and CEO since 2006.
- Separately, ACFN agrees to sell a 50% interest in its DSIT Solutions business to Israel-based Rafael Advanced Defense Systems for $6.6M.
Sep. 8, 2014, 2:57 PM
- Acorn Energy (ACFN +12.2%) surges after announcing its DSIT Solutions sonar technology subsidiary received another order for its underwater security system to monitor and protect nuclear power plants.
- ACFN expects installation before the end of the year, adding that the order arrived less than two weeks after it announced a similar order from an European nuclear plant operator.
- Financial details of the order were not disclosed.
Jul. 2, 2014, 12:56 PM
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Nov. 18, 2013, 12:45 PM
Nov. 18, 2013, 9:59 AM
- Acorn Energy (ACFN +11.8%) shares spike after Maxim upgrades the stock back to Buy from Hold with a $6 PT (an implied upside of 77% from Friday's close).
- The firm, which had downgraded the energy tech solutions provider back in Aug., cited the recent pullback in shares and the belief that Acorn's tech is valid.
- Pullback may be an understatement, with shares down 65.8% from highs notched in July, which may also explain today's large move in the other direction.
Nov. 5, 2013, 5:44 PM
Oct. 7, 2013, 12:46 PM
Oct. 7, 2013, 10:39 AM
- Acorn Energy (ACFN -21.4%) plunges after disclosing its financial outlook, saying revenue and earnings performance for Q3 and full-year 2013 and 2014 will end materially below expectations.
- ACFN will record an impairment charge as a result of write-downs of goodwill and other intangibles, and will record a restructuring charge with respect to its OmniMetrix subsidiary; the moves likely will have a material impact on Q3 operational results.
- Also, ACFN files for a ~$15M common stock offering.
Aug. 26, 2013, 5:21 PM
Aug. 14, 2013, 10:55 AM
- Acorn Energy (ACFN +7.7%) spikes after announcing subsidiary US Seismic Systems has entered into a Master Purchase Agreement with a large oil services company, and concurrently won a contract to supply a monitoring system for a multi-well, high-temperature, downhole microseismic monitoring project.
- US Seismic has received 8 orders from 9 trials. CEO Jim Andersen sees "large opportunity for us as more than 10,000 of the wells drilled each year in the US involve high temperatures where today's conventional electronics-based seismic sensor systems simply cannot survive."
- Shares are still down 8.9% since Aug. 7, when Acorn announced Q2 results that missed expectations.
Aug. 7, 2013, 5:45 PM
Acorn Energy Inc is a holding company which provides technology driven solutions for energy infrastructure asset management.
Sector: Industrial Goods
Industry: Aerospace/Defense - Major Diversified
Country: United States
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