Comverge (COMV) reported results that were inline with analyst estimates on the EPS side and a bit above on the revenue side. The company reported a non GAAP EPS loss of .39/share on revenues of $17 million vs the analyst estimate of a .39/share loss on revenues of $15.80 million. For a company that expects to break even to post a bit of profit next year, it’s got its work cut out. On the revenue … Read the rest
Category Archives: demand response
Needham Initiates Coverage On EnerNOC (ENOC) With Buy: Demand Response Leader
Needham has initiated coverage on EnerNOC (ENOC) this morning with a Buy rating and $37 price target. Hat tip to Street Insider for the analyst comment.
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“EnerNOC holds the top position among Demand Response (DR) providers in addition to a commanding lead in the C&I space, that appears poised to improve even more in coming years. Further, the company’s technology is industry-leading, provides a scalable platform and … Read the rest
Analyst Rating Roundup (FSLR, ENOC, CWST, KDN)
A few analyst rating changes for today..
Hat tip to Street Insider for the analyst commentary.
Canaccord Genuity maintains Buy rating on Casella Waste Systems (CWST) and has a price target of $6 which is more than 50% higher than current levels. “We maintain our BUY on CWST with higher confidence that the company can improve recycling volumes within its recycling segment this fiscal year.” Shares of CWST aren’t moving on the positive comments, down … Read the rest
Morning Analyst Ratings (COMV, FSLR, CREE)
Needham & Company has initiated coverage on Comverge (COMV) with a Buy rating and $14 price target. Shares of COMV could use a boost. They remain in a down trend and there is resistance all the way up to the 11.15 level of the 200 day moving average. Hat tip to Street Insider for the following analyst comment:
“Overall, we view Comverge’s strong presence in US residential demand response (along with its building presence in … Read the rest
EnerNoc (ENOC) Adds 30MW Of Demand Response Capacity In California
EnerNOC just announced that it is expanding its DemandSMART network in Northern California to provide an additional 30MW of demand response capacity, bringing EnerNOC’s total demand response capacity in the region to 70MW.
The DemandSMART network consists of commercial, institutional, and industrial customers who agree to use EnerNOC’s demand response software to reduce their energy usage when requested by PG&E. In exchange, these customers receive payments for committing to adjusting their usage when necessary plus … Read the rest
Comverge (COMV) Secures $74 Million In PJM Auction, Increases Market Share
Comverge (COMV) didn’t have as much success in securing future revenues in the PJM market as EnerNOC (ENOC) did, but they have announced that they secured more than $74 million in future contracted revenue as a result of the 2013/2014 Reliability Pricing Model Base Residual Auction.
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What is this PJM market you ask? PJM Interconnection is a regional transmission organization that manages and operates the wholesale … Read the rest
EnerNOC (ENOC) Expects $200 Million In Demand Response Revenue From PJM Market In 2013
EnerNOC (ENOC) has announced that based on the 2013/2014 Reliability Pricing Model Base Residual Auction results, it now expects to recognize over $200 million in DemandSMART revenue from the PJM market in 2013. They have also increased their base residual market share from 35% in 2012/2013 to 40% in 2013/2014.
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CEO Tim Healy commented: “EnerNOC’s financial strength positioned us well to bid strategically into the 2013/2014 auction, … Read the rest
Canaccord Adams Reiterates EnerNOC (ENOC) Buy Rating
Canaccord Adams reiterated its Buy rating and $40 price target on EnerNOC (ENOC) this morning. Hat tip to Street Insider for the following analyst comment:
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“With Street interest in the auction results elevated given the industry significance of the PJM market (currently ~50% of revenues), last Friday’s data reinforces our thesis of strong, secular growth in the demand response (DR) market, along with EnerNOC’s leadership position appearing … Read the rest
EnerNOC (ENOC) And Tucson Power Announce 40MW Demand Response Agreement
EnerNOC just signed a 40MW demand response agreement with Tucson Power. Under the agreement, EnerNOC will use its DemandSMART application to provide up to 40MW of demand response capacity for commercial, institutional, and industrial facilities located in Tucson Electric Power’s service area. Customers will be able to monitor their energy use and will receive payments from EnerNOC in return for allowing EnerNOC to manage their sites energy performance from its Network Operations Center.
In a … Read the rest
Wedbush Morgan Initiates EnerNOC (ENOC) At Neutral: "Slow Traction In Energy Management Biz"
Wedbush Morgan initiated coverage on EnerNOC (ENOC) this morning with a Neutral rating and price target of $25. Hat tip to Street Insider for the analyst comment.
“Demand response is undergoing rapid market evolution, with significant changes to contract and auction procedures, which could both positively and negatively impact the outlook. Slow traction in EnerNOC’s energy management business after allocation of significant resources raises valid questions about the company’s ability to serve this market, or … Read the rest