The President & CEO of Acorn Energy is Exercising Options

Today it was reported that the President & CEO of Acorn Energy (ACFNResearch Report), Jan Loeb, exercised options to buy 461,589 ACFN shares at $0.24 a share, for a total transaction value of $110.8K. The options were close to expired and Jan Loeb retained stocks.

This recent transaction increases Jan Loeb’s holding in the company by 31.2% to a total of $524.1K. In addition to Jan Loeb, 2 other ACFN executives reported Buy trades in the last month.

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Based on Acorn Energy’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.33 million and GAAP net loss of $237K. In comparison, last year the company earned revenue of $1.21 million and had a GAAP net loss of $360K. Currently, Acorn Energy has an average volume of 14.85K.

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Acorn Energy, Inc. is a holding company, which engages in the provision of technology driven solutions for energy infrastructure asset management. It operates through the Power Generation (PG) and Cathodic Protection (CP) segment.