Piper Jaffray is upgrading Echelon (ELON) this morning following the big Duke Energy (DUK) contract announced yesterday. The firm is upgrading the company from Underweight to Neutral and is raising the price target from $6 to $10.
Hat tip to StreetInsider.com for the following analyst comment:
Piper analyst says, “Echelon announced a framework agreement with Duke Energy (NYSE: DUK) that includes an initial order for 120,000 smart meters and data concentrators and Ohio; … Read the rest
Echelon (ELON) is rocketing higher this morning after the company announced it will be the long term supplier for Duke Energy’s (DUK) smart grid system to be deployed initially in Ohio with smart grid expansion plans in Indiana as well. The company provides electricity to 4 million customers across North & South Carolina, Indian, Ohio and Kentucky and is the nation’s 3rd largest utility. The company has received regulatory approval to deploy their smart grid … Read the rest
I just came across an article written over a month ago by well known investment “guru” Tobin Smith, highlighting three “hidden gem” green stocks. The article highlights Itron (ITRI), VMware (VMW) and Echelon (ELON) as companies that could benefit big in the coming green energy revolution. Itron (ITRI) may be relatively unknown to the average investor, but considering it’s the big guy in the smart grid space, it’s quite well known to those with … Read the rest
In an effort to reduce the costs associated with energy use for streelights, the city of Palo Alto, California is demonstrating streetlights equipped with Echelon’s LonWorks technology. Echelon’s technology allows the lights to be managed remotely, as well as connecting them directly to maintenance software. By replacing all of its streetlights with more efficient models by 2015, the city will also reduce the amount of greenhouse gases it produces by 600 to 950 metric tons … Read the rest
Several days ago Itron (ITRI), the smart grid 800lb gorilla, reported disappointing earnings. Today, the unprofitable up and comers EnerNoc (ENOC) and Echelon (ELON) reported large losses but losses that were considerably less than the estimates.
Echelon (ELON) reported a non GAAP loss of .19/share which beat estimates of a loss of .34 by a wide margin. Revenues also came in better than expected at $18.2 million vs the estimate of $17.8 million. Despite … Read the rest
This is exciting…Echelon and T-Mobile just announced that they have formed a partnership that will allow Echelon to use T-Mobile’s GSM wireless network to connect its smart meters with utility companies. Under the agreement, T-Mobile will provide special, heavy-duty silicon SIM cards that will be embedded into Echelon’s smart meters. The SIM cards can then be used to wirelessly communicate data on electricity uses and outages by sending it to the utility company via … Read the rest
Echelon’s (ELON) LonWorks technology will be used in California’s first smart streetlight project in San Jose which is part of the City’s Green Vision. The plan calls for a transformation of San Jose into an epicenter of clean technology and innovation in order to promote green energy and limit energy use.
125 streetlights will be converted to use LED and will be controlled with Echelon’s power line networking technology and segment controllers, improving quality, decreasing … Read the rest
Echelon (ELON), a significant, but unprofitable player in the smart metering industry, surged 13% today with decent volume following a BUY initiation and price target of $9.50 from Cantor Fitzgerald. According to the StreetInsider.com, Cantor had this to say:
“The shares are trading close to their 52-week low in a challenging equity market. We believe the company has strong growth prospects in 2010 and beyond as the world moves to upgrade its electric grids … Read the rest
Echelon just announced the launch of its new product LonWorks 2.0. LonWorks 2.0 is a new platform for smart networks that the company says is faster, cheaper and easier to use than earlier systems were. The new system is compatible with existing LonWorks products, and is geared toward the commercial building sector, especially small buildings and companies who are trying to retrofit existing systems to make them more energy efficient.
In a press release distributed … Read the rest
Echelon just announced that it has joined the Demand Response and Smart Grid Coalition, an industry trade association. The coalition’s goal is to raise awareness of the benefits that demand-response systems and smart grid technologies can offer.
Echelon’s VP of Networked Energy Services (NES) Sales, Jim Andrus, commented on the significance of the coalition in a company press release:
… Read the rest"At a time when the Obama administration is calling for an overhaul of the nation’s