Acorn Energy (
) reported four insider buys this past week. The buying started
on March 20 and continued through the 22
. The four men added over 22,000 shares at a cost of over
$160,000. These insider buys came shortly after the company
presented at the Electrical Generating Systems Association (EGSA)
in Sarasota, Fla. On March 20, President and CEO John Moore added
9,855 shares to his stake at $6.63 per share. His total
transaction amount was $65,339. Moore now holds 894,778 shares of
On March 21, Directors Christopher Clouser and Richard Rimer
added shares to their stake. Clouser added 4,000 shares at $7.15
per share for a total of $28,600. Clouser holds on to 35,300
shares of company stock. Rimer added 5,000 shares at $7.15 per
share. His transaction totaled $35,750. Rimer now owns 54,400
shares of Acorn Energy.
On March 22, Director Mannie Jackson added 4,000 shares at $7.70
for a total of $30,800. Jackson now has at least 8,100 shares of
Acorn Energy stock.
Acorn Energy is a holding company that maintains four portfolio
companies. The first one is GridSense which provides monitoring
for all critical points along the electricity delivery system.
Omnitrex is a company that remotely monitors emergency back-up
power generation systems. U.S. Seismic supplies fiber optic
sensing solutions to increase oil/gas production and lower costs.
The last company is DSIT which provides security solutions from
under water threats to naval and marine based energy assets.
For the fiscal year 2012, the company reported revenue up to
$19.4 million compared to $18.9 million in 2011. Acorn Energy
also reported a net loss for 2012 of $16.7 million compared to
$35.4 million from 2011.
Acorn Energy has been suffering a revenue decline for the past
five years. On the other hand, its operating margin has been
expanding recently. For more information on the financials and
performances of Acorn Energy, look at the
Acorn Energy analysis page
"We have a plan," said President and CEO John Moore. "We are
working on the plan. The plan says we will be cash flow positive
in 2014. Each of our businesses is at a different point in the
commercial spectrum and we are investing aggressively to mature
each of them to the point where they are self-sustaining. I am
extremely excited about the future of our company."
You can view more articles on Acorn Energy
currently holds 60,000 shares of ACFN and Columbia Wanger owns
2,406,121 shares of the company stock.
With its shares down 6.98%, Acorn Energy trades at $7.46.
To view more insider trades, look at Acorn Energy's insider trade
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