EnerNOC, Inc. (ENOC) Cut to “Strong Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of EnerNOC, Inc. (NASDAQ:ENOC) from a hold rating to a strong sell rating in a research note released on Tuesday morning.

According to Zacks, “ENERNOC, INC. is a leading developer and provider of clean and intelligent energy solutions to commercial, institutional, and industrial customers, as well as electric power grid operators and utilities. EnerNOC’s technology-enabled demand response and energy management solutions help optimize the balance of electric supply and demand. The Company uses its Network Operations Center, or NOC, to remotely manage and reduce electricity consumption across a network of commercial, institutional, and industrial customer sites and make demand response capacity and energy available to grid operators and utilities on demand. “

ENOC has been the topic of a number of other research reports. Canaccord Genuity restated a hold rating and issued a $6.00 price objective on shares of EnerNOC in a report on Wednesday, February 8th. Needham & Company LLC restated a buy rating and issued a $10.00 price objective on shares of EnerNOC in a report on Wednesday, March 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $7.75.

Analyst Recommendations for EnerNOC (NASDAQ:ENOC)

Shares of EnerNOC (NASDAQ:ENOC) remained flat at $5.80 during trading on Tuesday. 12,034 shares of the company were exchanged. The company has a 50 day moving average of $5.59 and a 200 day moving average of $5.75. The stock’s market capitalization is $170.02 million. EnerNOC has a 12 month low of $4.80 and a 12 month high of $7.83.

EnerNOC (NASDAQ:ENOC) last announced its quarterly earnings data on Tuesday, March 14th. The business services provider reported ($1.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.12. The company had revenue of $50.10 million for the quarter, compared to analyst estimates of $45.97 million. EnerNOC had a negative return on equity of 53.70% and a negative net margin of 36.02%. The firm’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same quarter last year, the firm posted ($4.51) EPS. Equities research analysts anticipate that EnerNOC will post ($2.32) earnings per share for the current fiscal year.

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Several hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in shares of EnerNOC during the fourth quarter worth about $1,254,000. Renaissance Technologies LLC increased its stake in shares of EnerNOC by 20.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,200,338 shares of the business services provider’s stock worth $7,202,000 after buying an additional 200,138 shares during the period. Alambic Investment Management L.P. increased its stake in shares of EnerNOC by 174.5% in the third quarter. Alambic Investment Management L.P. now owns 118,300 shares of the business services provider’s stock worth $640,000 after buying an additional 75,200 shares during the period. Horrell Capital Management Inc. bought a new stake in shares of EnerNOC during the first quarter worth about $300,000. Finally, Two Sigma Investments LP bought a new stake in shares of EnerNOC during the fourth quarter worth about $244,000. 49.93% of the stock is owned by institutional investors and hedge funds.

About EnerNOC

EnerNOC, Inc is a provider of energy intelligence software (EIS) and demand response solutions. The Company’s EIS provides enterprise solutions, utility solutions and energy procurement solutions. The Company’s EIS offers enterprise customers with a Software-as-a-Service (SaaS) solutions with various areas of functionalities, including energy cost visualization, budgets, forecasts and accruals; project tracking, and demand management.

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