Today’s Stock Alert: Echelon Corporation Can’t Burn Your Short Portfolio. Just Reaches 52-Week Low

Today's Stock Alert: Echelon Corporation Can't Burn Your Short Portfolio. Just Reaches 52 Week Low

The stock of Echelon Corporation (NASDAQ:ELON) hit a new 52-week low and has $3.70 target or 13.00% below today’s $4.25 share price. The 8 months bearish chart indicates high risk for the $18.70 million company. The 1-year low was reported on Nov, 14 by Barchart.com. If the $3.70 price target is reached, the company will be worth $2.43M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 110,956 shares traded hands or 1195.00% up from the average. Echelon Corporation (NASDAQ:ELON) has declined 23.22% since April 12, 2016 and is downtrending. It has underperformed by 28.20% the S&P500.

According to Zacks Investment Research, “Echelon Corporation develops, markets and supports products and services that allow everyday devices, such as light switches, washing machines, assembly line robots, thermostats, gas pumps, motion sensors, air conditioners, pumps, and valves, to be made smart and to communicate with one another and across the Internet. Their products and services are based on our LonWorks technology. Their products and services may be used across many industries to network together everyday devices in homes, buildings, factories and transportation systems.”

More notable recent Echelon Corporation (NASDAQ:ELON) news were published by: Marketwatch.com which released: “Echelon Corp.” on February 24, 2011, also Businesswire.com with their article: “Leading Developers Use Echelon Corp.’s New Chipset to Easily Bring the …” published on February 08, 2016, Businesswire.com published: “Bellingham, Wash Converts City-Owned Streetlights to a Smart City LED …” on December 15, 2015. More interesting news about Echelon Corporation (NASDAQ:ELON) were released by: Businesswire.com and their article: “Echelon Responds to Growing Market Demand for Intelligent Connected Outdoor …” published on October 05, 2015 as well as Businesswire.com‘s news article titled: “Echelon Announces Stockholder Approval of Reverse Split” with publication date: November 20, 2015.

ELON Company Profile

Echelon Corporation, incorporated on December 7, 1988, develops open-standard control networking platforms and delivers elements necessary to design, install, monitor and control communities of devices. The Company’s products enable everyday devices, such as air conditioners, outdoor lighting, appliances, electricity meters, light switches, thermostats and valves to be inter-connected and be part of the Industrial Internet of Things (IIoT) market. The Firm operates through the IIoT segment. The Company’s IIoT business sells services and products that form embedded control platforms, such as LONWORKS and IzoT. The Company’s IIoT business also sells services and products, which include components, control nodes and development software. The products are sold to original equipment manufacturers (OEMs) to build into their industrial application solutions. The Firm also sells into certain vertical application markets for IIoT solutions, such as the outdoor lighting market. The Firm operates in three geographic areas: the Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific and Japan (APJ). The Firm also offers a solution consisting of outdoor lighting controllers, segment controllers, gateways and software to end customers, such as municipalities, cities, campuses and commercial enterprises. The Firm markets its products under the Echelon brand.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment