EnerNOC (ENOC) reported good earnings results that beat analyst estimates, but the stock is trading down more than 10% most likely due to weaker than expected guidance. The company reported a non GAAP EPS of $1.81/share vs the analyst estimate of $1.56 on revenues of $162.8 million vs the analyst estimate of $160.8 million. Those numbers represent quarter over quarter growth of 39% in EPS and 58% in revenues, so a nice quarter.
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A few bullish analyst calls to tell you about this morning.
Yesterday I posted about Verenium’s (VRNM) approval in China for Purifine which sent the stock soaring. The pull back today is offering a 2nd chance opportunity. Shares have pulled back to what is now support around the 200 day moving average.
Olympia Capital chimed in on the news and upgraded the stock from Neutral to Buy and raised the price target from $3 to … Read the rest
Echelon (ELON) has released a new open software platform for intelligent distributed control and a series of new products for the smart grid and Duke Energy (DUK) is first in line to purchase the Edge Control Node 7000 Series running the Echelon Control System software. Field trial deployments are expected to begin by the end of the year with production units expected to ship in about a year. The initial order is valued at around … Read the rest
JMP Securities is bullish on a few green stocks due to an expected increase in electricity demand which the firm sees sparking increased efforts to develop alternative energy solutions. They see good value in demand response players EnerNOC (ENOC) and Comverge (COMV) as well as US solar company Sunpower (SPWRA) and have an Outperform rating on all three.
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Analysts have weighed in on Itron … Read the rest
According to the Boston Business Journal, EnerNOC (ENOC) is on the acquisition trail, looking to accelerate growth by buying small companies in the emerging clean energy space. CEO Tim Healy acknowledged the industry is ripe for consolidation and that larger companies are looking to add to their alternative energy portfolios as well through acquisition.
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“We’ve been acquisitive in the past, but modestly acquisitive,” said Healy, … Read the rest
EnerNOC (ENOC) reported very strong earnings results this morning, but traders feel much of that is priced in already as the stock is off about 6% on heavy volume. Two analysts came out with opposing views.. ah that’s what makes a market eh? Hat tip to Street Insider for the analyst comments.
Needham & Company reiterated its Buy rating on EnerNOC (ENOC) and $37 price target. “The demand response space is proving to be fundamentally … Read the rest
Everyone expected emerging demand response leader EnerNOC (ENOC) to have a great quarter, but it was MUCH better than expected on the EPS side. While the company posted a revenue number that was about 5% below analyst expectations at $66.5 million, the EPS number of .17/share smashed the estimate of .03/share.
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CEO Tim Healy commented on the quarter, saying, “We are approaching 5,000 megawatts under management … Read the rest
Several analyst rating changes to tell you about this morning. Hat tip to Street Insider for the analyst commentary.
Needham & Company reiterated a Buy on Echelon Corp (ELON), but lowered the price target from $11 to $10.
“While uncertainty remains on the pace of uptake at utilities exploring AMI solutions as well as at current customers such as Duke, we continue to believe that Echelon has a solid technology offering that not only addresses … Read the rest
Echelon (ELON) has a long way to go to get to profitability, but it reported a decent quarter beating analyst estimates by a wide margin on the EPS side. It reported a loss of .09/share which was .15 better than analyst expectations on revenues that were a bit better than analyst expectations at $27 million (analysts expected $25.5 million). Those numbers are improvements both sequentially and quarter over quarter and that’s exactly what you want … Read the rest
Needham & Company is reiterating its Buy rating on Comverge (COMV) and price target of $14 after the company reported earnings last night. Hat tip to Street Insider for the analyst comments.
“We continue to view Comverge’s momentum in US residential (along with its improving presence in C&I) as vital to maintaining its position among the elite in the evolving demand response space. Further, we hold a positive view of the company’s growing turnkey … Read the rest