Dominick & Dominick Reiterates Buy on Acorn Energy, Earnings Date Still to be Released

In a report published Monday, Dominick & Dominick reiterated its Buy rating and $14.00 price target on Acorn Energy (NASDAQ: ACFN). Dominick & Dominick noted, “Acorn has not set an earnings date, but it is possibly this week. We are looking for revenue of $5.0 million and EBITDA of $(3.1) million. We believe US Seismic remains the key value driver for Acorn, but testing and deployment of the company's fiber-optic sensor has taken longer than we expected. Some of this is due to discoveries in the field not contemplated in the lab, changes by the customer, and natural delays for various reasons. US Seismic did recently receive an order for a downhole seismic fiber-optic array from a supermajor, which is positive news.” Acorn Energy closed on Friday at $7.15.