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ACORN ENERGY INC - ACFN STOCK NEWS

Welcome to our dedicated page for ACORN ENERGY news (Ticker: ACFN), a resource for investors and traders seeking the latest updates and insights on ACORN ENERGY stock.

Acorn Energy, Inc. (OTCQB: ACFN) is a leading provider of remote monitoring and control solutions for critical industrial assets. Through its subsidiary OmniMetrix, Acorn focuses on stand-by power generators, gas pipelines, air compressors, and other essential equipment. The company’s innovative solutions enhance productivity, reliability, security, and efficiency, offering significant improvements in operational performance and resource management.

OmniMetrix, a pioneer in the Internet of Things (IoT) sector, serves a diverse client base, including over 25 Fortune/Global 500 companies, providing robust monitoring solutions for cell towers, manufacturing plants, medical facilities, data centers, retail stores, public transportation systems, energy distribution, and governmental facilities. By leveraging IoT technology, OmniMetrix ensures critical systems remain operational, thus preventing costly downtimes and enhancing overall system reliability.

Acorn Energy’s core business revolves around its four portfolio companies:

  • US Seismic Systems: Supplies advanced fiber optic sensing solutions designed to increase oil and gas production while reducing costs.
  • GridSense: Provides comprehensive monitoring systems for critical points along the electricity delivery grid.
  • OmniMetrix: Specializes in the remote monitoring of emergency back-up power generation systems, boosting their reliability and operational readiness.
  • DSIT: Delivers cutting-edge security solutions to protect naval and marine-based energy assets from underwater threats.

Recent developments include a 22% revenue growth in Q2’23, driven by strong demand from national telecom customers. Acorn's total revenue has seen consistent growth, with Q3’23 revenue up by 17% compared to the previous year. The company also achieved positive net income and operating cash flow, reflecting robust financial health and operational efficiency.

Acorn Energy continues to advance its Demand Response (DR) programs, partnering with C-Power to enable grid support through backup generators. The recent reverse stock split and strategic reseller agreements signify Acorn’s commitment to expanding its market reach and enhancing shareholder value.

For more information, visit: www.acornenergy.com.

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Acorn Energy, Inc. (ACFN) to host Q4 conference call to discuss financial results and outlook.
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Acorn Energy, Inc. (ACFN) announced positive Q3'23 results with 17% revenue growth, a new reseller agreement, and an investor call. Monitoring revenue increased by 13% and hardware revenue by 21.7%. The company achieved a gross margin of 74.3% and reported a net profit for the third quarter and first nine months of 2023.
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Acorn Energy, Inc. will host its third quarter conference call on November 9th at 11:00 a.m. ET. Jan Loeb, President & CEO, and Tracy Clifford, CFO of Acorn & COO of OmniMetrix, will review Acorn's results and outlook. Financial results will be released that morning before markets open.
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Acorn Energy approves 1-for-16 reverse stock split to increase market price and accessibility. Q2'23 revenue grew 22% and net income positive. Expects long-term net profit growth of 20%. Cash at June 30, 2023, was $1.6M with no debt. Common stock to begin trading on reverse-split-adjusted basis on September 8, 2023. Reverse split reduces issued and outstanding shares from 39.76M to 2.48M.
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Acorn Energy, Inc. (OTCQB: ACFN) to hold its 2023 Annual Meeting of Stockholders on September 12, 2023.
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Acorn Energy, Inc. (OTCQB: ACFN) has appointed Peter Rabover, CFA, to its board of directors, expanding the board to five members with four being independent. Rabover, Managing Director of Artko Capital, LP, has been an investor in Acorn since 2018 and holds nearly 2 million shares. With over 20 years of buy-side investment experience and a background in corporate finance, Rabover's expertise is expected to enhance Acorn's growth strategies. CEO Jan Loeb expressed optimism about Rabover's ability to contribute to building long-term shareholder value through his financial knowledge and investment perspective.

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FAQ

What is the current stock price of ACORN ENERGY (ACFN)?

The current stock price of ACORN ENERGY (ACFN) is $17.5 as of December 23, 2024.

What is the market cap of ACORN ENERGY (ACFN)?

The market cap of ACORN ENERGY (ACFN) is approximately 47.3M.

What does Acorn Energy, Inc. do?

Acorn Energy, Inc. provides remote monitoring and control solutions for critical industrial assets, focusing on stand-by power generators, gas pipelines, air compressors, and other essential equipment through its subsidiary OmniMetrix.

Who are Acorn Energy's major clients?

Acorn Energy serves tens of thousands of customers, including over 25 Fortune/Global 500 companies, covering industries such as telecommunications, manufacturing, healthcare, data centers, retail, transportation, and government facilities.

What are the main products offered by Acorn Energy?

Acorn Energy offers remote monitoring solutions for stand-by power generators, gas pipelines, air compressors, and other critical assets. Key products include TrueGuard monitors for generators and Hero units for pipeline monitoring.

How has Acorn Energy performed financially recently?

Acorn Energy has achieved significant growth, with a 22% increase in Q2’23 and a 17% increase in Q3’23 revenue year-over-year. The company also reported positive net income and operating cash flow.

What is OmniMetrix?

OmniMetrix is a subsidiary of Acorn Energy and a leader in IoT wireless remote monitoring and control solutions for industrial equipment, ensuring reliability and efficiency across various sectors.

What partnerships has Acorn Energy recently formed?

Acorn Energy recently entered into a significant reseller agreement with a leading US generator dealer and continues to partner with C-Power for Demand Response programs to support grid operators.

What is Acorn Energy's Demand Response program?

The Demand Response program allows backup generator owners to enroll their generators to support the electric grid during peak demand periods, providing a new revenue stream and improving grid reliability.

What recent strategic moves has Acorn Energy made?

Acorn recently completed a reverse stock split to increase its stock price and accessibility to a broader range of investors. They also signed a major contract with a national telecom provider to monitor cell tower backup generators.

How can I learn more about Acorn Energy?

Visit Acorn Energy’s website at www.acornenergy.com for detailed information about their services, recent news, and investor relations.

Is Acorn Energy profitable?

Yes, Acorn Energy has achieved profitability in recent quarters, with ongoing revenue growth and positive net income reported in both Q2’23 and Q3’23.

ACORN ENERGY INC

OTC:ACFN

ACFN Rankings

ACFN Stock Data

47.28M
1.71M
31.24%
10.98%
1.34%
Scientific & Technical Instruments
Technology
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United States of America
Wilmington