Acorn Energy saw its IBD SmartSelect Composite Rating rise to 96 Friday, up from 93 the day before.
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The new score indicates the company is now outperforming 96% of all stocks in terms of the most important fundamental and technical stock-picking criteria. The top-performing stocks tend to have a 95 or better grade as they start a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Acorn Energy is currently forming a cup with handle, with a 32.00 buy point. Look for the stock to break out in heavy trade at least 40% above average. Be aware that it is a very thinly traded stock, with average daily dollar volume under $1 million.
The stock earns an 81 EPS Rating, which means its recent quarterly and annual earnings growth is outpacing 81% of all stocks.
Its Accumulation/Distribution Rating of A shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks.
In Q2, the company reported 155% EPS growth. Sales growth climbed 55%, up from 46% in the prior report. That marks one quarter of rising revenue increases. The company's next quarterly report is expected on or around Jan. 1.
Acorn Energy holds the No. 2 rank among its peers in the Finance-Investment Management industry group. Acadian Asset Management is the No. 1-ranked stock within the group.
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