EnerNOC shares soar after results beat expectations
Shares of Boston-based EnerNOC Inc. soared today, after the company said its first-quarter loss widened, but wasn't as steep as Wall Street expected.
In morning trading on the Nasdaq Stock Market, shares of EnerNOC, which makes products that allow utilities and electric grid operators to regulate supply and demand, rose $2.04, or 15 percent, to $15.73, after peaking at $16.95 earlier in the day.
In the past 52 weeks, the company's shares have traded between $9.26 and $50.50.
For the quarter ended March 31, EnerNOC posted a loss of $11 million, or 57 cents per share, compared with a loss of $3.8 million for the same quarter in 2007.
Revenue jumped 87 percent to $18.6 million from $10 million in the year-ago period.
Analysts polled by Thomson Financial expected a loss of 59 cents per share on $17.6 million in revenue. (AP)
