The President & CEO of Acorn Energy (Other OTC: ACFN) is Buying Shares

Yesterday, the President & CEO of Acorn Energy (ACFNResearch Report), Jan Loeb, bought shares of ACFN for $54.1K.

This recent transaction increases Jan Loeb’s holding in the company by 3.37% to a total of $1.75 million.

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Based on Acorn Energy’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.34 million and GAAP net loss of -$283,000. In comparison, last year the company earned revenue of $1.33 million and had a GAAP net loss of $237K. Currently, Acorn Energy has an average volume of 52.52K.

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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. The PG segment offers wireless remote monitoring and control systems and services for critical assets as well as internet of things applications. The CP segment includes remote monitoring of cathodic protection systems on gas pipelines for gas utilities and pipeline companies. The company was founded by George Morgenstern in 1986 and is headquartered in Wilmington, DE.