On May 28, 2014, India Globalization Capital, Inc. (NYSEMKT:IGC), has confirmed it has initiated a letter of intent demonstrating its clear intention to acquire Hong Kong based, Golden gate. Subject to execution of the acquisition agreement, satisfaction of due diligence and approval by IGC board, the transaction should close in the current quarter. Speedy completion of the transaction is as a result of the transaction not requiring any vote from IGC shareholders. India Globalization Capital, Inc. (NYSEMKT:IGC), net profit margin is -89.50% and weekly performance is 21.38%. On last trading day company shares ended up $1.76. India Globalization Capital, Inc. (NYSEMKT:IGC), distance from 50-day simple moving average (SMA50) is 84.10%.
Acorn Energy Inc (NASDAQ:ACFN), Director Andy Sassine acquired 232,684 shares of the company’s stock on the open market in a transaction dated Thursday, June 5th. The stock was purchased at an average cost of $1.73 per share, with a total value of $402,543.32. Following the acquisition, the director now directly owns 575,662 shares in the company, valued at approximately $995,895. Acorn Energy Inc (NASDAQ:ACFN), advanced 15.38% in last trading session and ended the day on $1.95. ACFN, Gross Margin is 21.00% and its return on assets is -60.10%. Acorn Energy Inc (NASDAQ:ACFN), quarterly performance is -44.29%.
On June 03, 2014, Telephonics Corporation, a wholly owned subsidiary of Griffon Corporation (NYSE:GFF), announced the conclusion of a successful collaborative effort with Northrop Grumman Corporation to deliver Mode S upgrades to the Telephonics’ AN/UPX-40 Identification Friend or Foe (IFF) Interrogator, fielded on the United Kingdom’s E-3D Sentry Airborne Warning and Control System (AWACS) fleet based at Royal Air Force Waddington. Griffon Corporation (NYSE:GFF), shares moved up 5.02% in last trading session and was closed at $12.13, while trading in range of $11.61 – 12.14. Griffon Corporation (NYSE:GFF), year to date (YTD) performance is -7.69%.
On May 30, 2014, Ocean Power Technologies Inc (NASDAQ:OPTT)’s shares increased 7.20% to $2.68. The company on Apr. 30 announced the election of Eileen M. Competti to the Company’s Board of Directors. In addition, the Company announced the retirement of Dr. George W. Taylor from the Board of Directors. Ms. Competti is currently Vice President, Global Competitiveness for The Babcock & Wilcox Company (BWC) (BWC), a leader in clean energy technology and services, primarily for the nuclear, fossil and renewable power markets, as well as a premier advanced technology and mission critical defense contractor. Ocean Power Technologies Inc (NASDAQ:OPTT), ended the last trading day at $2.40. Company weekly volatility is calculated as 7.06% and price to cash ratio as 2.55. Ocean Power Technologies Inc (NASDAQ:OPTT), showed a negative weekly performance of 3.61%.
PMFG Inc (NASDAQ:PMFG), confirmed that Tristan Partners, L.P., an entity managed by Cannell Capital LLC, has submitted a letter nominating two candidates for election to the Company’s Board of Directors at the 2014 annual meeting of stockholders. Cannell Capital and certain other stockholders of the Company also filed a Schedule 13D with the SEC disclosing that they have formed a group for the purpose of seeking the election of the two director candidates nominated to the Company’s Board of Directors. PMFG Inc (NASDAQ:PMFG), net profit margin is -10.20% and weekly performance is -12.56%. On last trading day company shares ended up $5.70. Analysts mean target price for the company is $9.50. PMFG Inc (NASDAQ:PMFG), distance from 50-day simple moving average (SMA50) is 7.39%.