Motsam, Samgean, Lesserfool, Stacker, others -- What the hey?
I've been very busy on a project since earnings -- have not read the report, just the PR's. What's going on -- is there anything behind the scenes, or is this just mm manipulation/small cap sell-off and ENOC's getting dragged down? Thought 24 was overblown, but didn't expect to see 18 something, unless things have fundamentally changed? No position now, but wont' jump in until studying up.
I would have thought today's headline on Obama administration looking for 25% more efficiency by _____ would have grid implications/be good for Enernoc in terms of energy savings, efficiency and their SaaS offering.
So I've replied 2x and it hasn't posted I suppose b/c I had a link to an rtoinsider story in it. Anyway, my take was that ER was decent but not great; mixed guidance and perhaps also overly slow int'l expansion may've been an issue.
Shortly after that FERC sided with PJM on some DR related issues (RTOinsider has an article on it). I'm guessing as so often occurs with PJM-related news, the volatility is probably over done. Looking to reenter once it seems to hit a firm bottom and small cap stocks sort of settle down hopefully. IMO the street still treats ENOC as if it's a pure PJM play which isn't really true anymore.
i read their earnings transcript. they mentioned that they do not plan to go after the same market share that they have been in the past with the PJM Capacity markets. In general they were also pretty vague with some of their plans especially with how they will be growing through acquisitions. Tim Healy doesn't do the best with quarterly presentations and I think he doesn't give a clear picture of what ENOC is looking to in the future. That said, I still like them, think they are well positioned and think this is blip on the radar.