Dougherty & Co Cuts Echelon to Sell (ELON)

By admin | 6 years ago

Echelon (NASDAQ: ELON) was downgraded by analysts at Dougherty & Co from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Thursday. They currently have a $3.25 price target on the stock, down from their previous price target of $6.50.

A number of other firms have also recently commented on ELON. Analysts at Wedbush cut their price target on shares of Echelon from $7.00 to $5.00 in a research note to investors on Thursday. Separately, analysts at Needham & Company cut their price target on shares of Echelon from $9.00 to $7.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Piper Jaffray (NYSE: PJC) upgraded shares of Echelon from a “neutral” rating to an “overweight” rating in a research note to investors on Friday, March 2nd.

Shares of Echelon opened at 3.88 on Thursday. Echelon has a 52 week low of $3.80 and a 52 week high of $10.58. The company’s market cap is $164.2 million.

Echelon last announced its earnings results on Wednesday, May 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. The company’s quarterly revenue was up 41.9% on a year-over-year basis. Analysts expect that Echelon will post $-0.07 EPS next quarter.

Echelon Corporation is an energy control networking company. Echelon technologies connect more than 35 million homes, 300,000 buildings and 100 million devices to the smart grid.

About the author