Vista Partners maintains its price target....$17.50
I'm looking for that short squeeze...all we need is a catalyst.
SAN FRANCISCO, CA--(Marketwire - Nov 21, 2012) - Vista Partners announced today that it has updated coverage on Acorn Energy, Inc. ( NASDAQ : ACFN ) ("The Company" or "Acorn"); and maintains its twelve month target price of $17.50. Ross Silver, Principal Analyst at Vista Partners stated, "Acorn stands out amongst small cap growth stocks due to its current portfolio of companies focused on digital energy infrastructure management solutions. Each portfolio company may be poised for significant growth in these large addressable and growing security and energy markets. Acorn offers a quarterly dividend and management has successfully sold two portfolio companies at significant multiples to the amount invested in just a five year period, thus proving the business model." Mr. Silver concludes, "Since ACFN joined the Russell 2000 & 3000, the percentage of shares short has increased dramatically which is typical for new entrants to these indexes. At the end of June, 19.2% of the float of ACFN was short and at the end of October the short position was 3.91M shares or approximately 22% of the float. Based on the average trading volume for the last three months of about 120,000 shares, it would take the short seller(s) at least 70 days to cover or buy back their position if they represented 50% of daily trading volume. Should we experience a short squeeze with ACFN, the share price may move considerably higher in the near term."
"Vista has been retained and compensated by the Company to provide it with
certain advisory services. Vista owns equity securities of the Company and may sell such securities and/or buy and sell additional securities of the Company at any time."