EnerNOC, Inc. (NASDAQ:ENOC) announced its quarterly earnings data on Tuesday. The business services provider reported ($0.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.36) by $0.44. The firm had revenue of $48.10 million for the quarter, compared to analyst estimates of $44.73 million. EnerNOC had a negative net margin of 36.02% and a negative return on equity of 53.70%. The business’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.41) earnings per share. EnerNOC updated its FY17 guidance to ($2.57)-($2.07) EPS.
Shares of EnerNOC (NASDAQ:ENOC) traded up 2.78% on Friday, hitting $5.55. 219,935 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $5.67 and its 200 day moving average price is $5.78. EnerNOC has a 12-month low of $4.80 and a 12-month high of $7.74. The stock’s market cap is $163.56 million.
Hedge funds have recently modified their holdings of the stock. Nine Chapters Capital Management LLC bought a new stake in shares of EnerNOC during the first quarter valued at approximately $103,000. Nationwide Fund Advisors boosted its stake in shares of EnerNOC by 21.8% in the first quarter. Nationwide Fund Advisors now owns 23,592 shares of the business services provider’s stock valued at $142,000 after buying an additional 4,223 shares during the period. Wells Fargo & Company MN boosted its stake in shares of EnerNOC by 19.0% in the first quarter. Wells Fargo & Company MN now owns 28,861 shares of the business services provider’s stock valued at $172,000 after buying an additional 4,611 shares during the period. Tudor Investment Corp Et Al boosted its stake in shares of EnerNOC by 21.9% in the fourth quarter. Tudor Investment Corp Et Al now owns 29,297 shares of the business services provider’s stock valued at $176,000 after buying an additional 5,256 shares during the period. Finally, A.R.T. Advisors LLC bought a new stake in shares of EnerNOC during the fourth quarter valued at approximately $206,000. 49.93% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on ENOC. Zacks Investment Research raised shares of EnerNOC from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 10th. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of EnerNOC in a research report on Wednesday, March 15th. Finally, Canaccord Genuity restated a “hold” rating and set a $6.00 target price on shares of EnerNOC in a research report on Wednesday, February 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $7.50.
EnerNOC Company Profile
EnerNOC, Inc is a provider of energy intelligence software (EIS) and demand response solutions. The Company’s EIS provides enterprise solutions, utility solutions and energy procurement solutions. The Company’s EIS offers enterprise customers with a Software-as-a-Service (SaaS) solutions with various areas of functionalities, including energy cost visualization, budgets, forecasts and accruals; project tracking, and demand management.
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