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Acorn Energy, Inc. (ACFN)

Other OTC - Other OTC Delayed Price. Currency in USD
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0.5896+0.0157 (+2.73%)
As of 3:36PM EST. Market open.
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  • O
    Old Guys Rock
    Doesn't sound like we're getting any traction in the pipeline monitoring area even though prices are way up for energy. Sounds like DSIT product not a hit or ACFN did not get US distributorship.
  • R
    R
    Sold after $400k quarter. They took $400k+ covid money? remote monitoring needs in person sales??? Financials are flat other than Covid cash. Maybe they had a drive up window to sell fries and shakes and that was reason for covid cash?
    CEO gone. Barrier to entry to this space is getting really low after two decades.
    Zombie?
    Bearish
  • O
    Old Guys Rock
    DALLAS, Texas and BUFORD, Ga., Oct. 25, 2019 (GLOBE NEWSWIRE) -- OmniMetrix, a provider of remote monitoring and control systems for critical industrial equipment, including backup generators, air compressors, and gas pipelines, announced today that its CEO Walter Czarnecki will participate and present at the 3rd annual AT&T Business Summit in Dallas, Texas on November 6, 2019. In his presentation, Walter will discuss business and technology’s role in addressing climate change. He will also release OmniMetrix’s latest case study, which highlights the value of implementing IIoT technology on oil & gas pipelines.

    Mr. Czarnecki commented, “Over recent years we’ve heard customer CEO questions shift from ‘Where is the value in IIoT?’ to ‘How soon can we implement an IIoT strategy?’ This increased awareness and adoption continues to fuel growth in IIoT business cases that quantifiably deliver value. IIoT solutions, such as remote monitoring and control, provide a tangible ROI that people can understand. The technology is also crucial for management teams to do what’s right to minimize their environmental impact – which we believe is best for all stakeholders.”
  • S
    Steve
    Not much to see here. I had hoped that a deal or something to improve shareholder value would have been done over the last year. We haven't even been able to change the name like has been discussed.The current growth rate won't do much to get this company noticed. The way Acorits currently structured is
  • S
    Special Sits
    Went to shareholder meeting today in NYC. Surprisingly well attended. Maybe 6 or 7 outside of board, management and related parties. Jan and Walter went over business and current landscape. Looks like OmniMetrix is humming along and planning some new product launches over next few months. At holdco level, Jan is looking for accretive deals. Good questions all around.
  • O
    Old Guys Rock
    I wish we could get periodic updates about DSIT's pipeline monitoring technology and how it fits into Acorn strategy:
    In conjunction with the sale of its DSIT interest, Acorn secured right of first negotiation to act as exclusive distributor for DSIT's promising new fiber-optic sensor technology for pipeline monitoring and control in the United States. This technology offers a new range of high-value service opportunities, such as monitoring for third party intervention or gas or oil leaks, to complement and expand Acorn's existing OmniMetrix pipeline monitoring business which currently provides cathodic or corrosion protection systems on gas pipelines to utilities and pipeline companies.

    Walter addressed it in one Q and A conference call session, but said it was "down the road".
  • F
    Fred
    I think that it will be hard to grow the PG market by more than 20% a year, unless Omnimetrix lands a big contract. That said, I think the CP market, despite the challenging year in 2019, has huge growth potential. Very large addressable market, and some new product launches in 2020 could really tip the scales favorably there. 2020 has the POTENTIAL to be a banner year as the company hopefully turns the corner to become profitable and starts gaining significant traction in the CP market.
  • K
    Knight933
    Ok – I’ve had some time to process the earnings and here is my take for whatever it is worth.

    1- Again, best news was the big expansion in Gross Margin YoY. CEO said this new +60% threshold was sustainable due to high ~80% gross margins on monitoring revenue and 35%-40% gross margins on the hardware side. You can tell from the improving margins and shrinking losses that OmniMetrix is on track to be at least breakeven this year which is a big deal.

    2-Kept +20% Revenue YoY Growth Guidance: While revenue growth for the Q was about +10% YoY, ACFN feels very confident in their 20% revenue guidance for 2018. During the Q&A (but absent from the press release), the CEO said through the end last month (April 2018), revenue growth (on a cash basis) was up +22% YTD

    3-Taking steps to improve current “orphan stock” status: During the Q&A the CEO stated Acorn will be presenting at the LD Micro Invitational (June 4 - 6, 2018). This conference is exclusively focused on highlighting microcap stocks. This will be Acorn’s first conference presentation in 3 YEARS. Hopefully this will bring more eyeballs to the stock.

    4-Will rename the company this year: Optics matter, and changing the name from “Acorn Energy” to “OmniMetrix” will also help assuage investor confusion that this is an IoT name and not an energy co.

    5-Management has been pursuing accretive M&A: CEO stated that now the DSIT sale is complete, they have more time to scout acquisition targets. As a reminder, the CEO changed his compensation agreement this year to cut his base salary and to pay him a large incentive bonus of $300K if he can find a deal before YE 2019. Almost any deal would be an incremental positive since ACFN has ~$60M in NOL’s

    Overall, no change to thesis. Still very, very long.
  • H
    Howard
    Does anybody actually read the 10Q/10K/proxy reports? There is a shareholder meeting for Acorn on August 6th and we are asked once again to keep in place the current Board that has run this company into the ground. It’s time for a change. When Chris Clouser became Chairman of the Board in Nov 2012, the share price was around $7.50. Under his tutelage, the shares have lost 95% of their value; USSI and GridSense were effectively run into bankruptcy; and DSIT, the only profitable company in the portfolio was sold.
    In the meantime, Mr. Clouser and other directors enriched themselves at the expense of the company by lending to it at exorbitant interest rates. For this, the Board recently gave Mr. Clouser a “promotion” to Executive Chairman of the Board increased Mr. Clouser’s compensation and granted him a bonus??? Give me a break!
    Jan Loeb has done a fine job since coming in and deserves the opportunity to continue but the rest of the gang has to go.
  • K
    Knight933
    Good news. According to the CEO's new pay package, we now know the company is looking to do an M&A deal by year-end 2019 at the latest. Remember, Acorn has so many NOL's (~$60M), almost any deal they do would be immediately accretive because they would finally have earnings against which to shield taxes. Mr. Loeb would get a bonus for making this happen, which I view as very fair. Also, they upgraded one of the board members to Executive Chairman, indicating the company is entering a new phase focused on growth.

    Full details here: https://www.sec.gov/Archives/edgar/data/880984/000149315218005081/form8-k.htm
  • S
    Steve
    Finally some good volume and price appreciation. Does someone know something?
  • O
    Old Guys Rock
    While us stockholders have lost our shirts in this company, how much does former board member Woolard make for his time on the board between high interest short term loan, preferred stock dividend and now more than doubling his money on the Omnimetrix "infusion"?
  • A
    Anonymous
    Q1 results out after the bell TODAY.

    Place your bets, ladies and gentlemen.

    As for me.....let it ride.
  • J
    John
    This company is worth an investment. Yes, it is high risk, but the price is worth it. Years ago, I ordered a Dominos pizza after they made changes and I thought, "this is really good now". Next day I purchased ~10k worth of shares at $14.5 exactly (I bought 700 shares to be exact). I still have that stock and you can look it up today. I also bought ~10k worth of Activision at $11.31. Peet's Coffee just a little before the buyout, Empire State building REIT (just a nice dividend stock), United Health Group ($74.64 and still holding!)...all nice stocks I invested in and have wonderful returns.

    I am a small investor who does this for fun and profit (mostly profit). I buy stocks when I have some personal interaction with the company or product and think it is really good. Do I always pick right? Nope, I bought Ford at $16.60 a share...at least it has a dividend! Nevertheless, I was looking for back-up generators and I found a dealer that had these products/service. I was impressed and here I am.

    I do encourage people to look at their nationwide map of dealers. It is concentrated in the southeast at the moment. Just put in different zip codes on their dealer locator and check out their spots. They have room to grow. I do hope they get some salesman that can get aggressive and do that expansion for them!

    The biggest risk I see for a new investor is the lack of growth. 10-20% sounds great...unless it is at these levels. Analogy: if I get a candy bar and sell it for double, I just made 100% profit...it was simple. It was 1 candy bar. If I had 1,000,000 candy bars, I would have to find a lot of people to sell to! Small company versus big company. Omnimetrix is the small company at this point. They should be doubling or more every year. I think they will become a snowball, but it's not there yet. They need some people to be aggressive and get those dealers to push their products!

    Good luck and I hope you invest or hold on to the stock!
    Bullish
  • r
    rj
    Acorn (ticker: ACFN) owns 99% of OmniMetrix

    On Jul 21 OmniMetrix announced a partnership with Mel Systems s.r.l. as its AIRGuard compressor monitoring partner/distributor in Italy! Seems like the EU market could be a substantial opportunity for a small company. OmniMetrix is the operating subsidiary of publically-traded Acorn Energy $ACFN.

    #remotemonitoring
    Bullish
  • D
    Dane
    So ACFN shareholders what do you think
  • A
    Anonymous
    Q1 release May 15 after the bell. CC at 11am the following day. I'm looking foward to good results.GL.
  • K
    Knight933
    CEO purchased another 105,000 shares on the open market on 3/29 at $0.30/share. Combined with the prior ~127,000 (see comment below), the CEO has bought 231,694 since the earnings call last week, raising his stake +22% to about 1.3 million shares, or 4.4% of the company. Based on the elevated volume I am still seeing, looks like others are joining in to buy more.
  • S
    Steve
    Anyone have any reason to believe that 2020 will show a significant rise in ACFN stock? Been pretty disappointed the past few years as we hear the same things said at every earning call and a stock price that moves between .25 and .35 cents. Appreciate any comments.
    Neutral
  • O
    Old Guys Rock
    "I have also informed all appropriate agencies to expedite approvals of the oil pipelines currently in the permitting process in Texas and various other States," the president said in a series of tweets. Good or bad for Omnimetrix?
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