EnerNOC shareholder Periam discloses 5.5% stake, says shares undervalued

|By:, SA News Editor

EnerNOC (ENOC +0.5%) is higher after Periam Ltd. discloses a 5.5% stake in the company and nominates two directors to the board.

Periam believes ENOC shares are "deeply undervalued" and represent an attractive investment opportunity, but is "particularly shocked by management's poorly executed foray into energy intelligence software."

Periam recommends achieving improved value through more aggressive operational and financial restructuring, completion of a comprehensive strategic review, and improved transparency through more detailed segment-level financial disclosures.