Dsclaimer : Principals of ethical markets are investors in EnerNOC
EnerNOC stock up 21% on EPA rule revisions
Boston-based EnerNOC Inc. (Nasdaq: ENOC) spiked more than 20 percent Tuesday after the Environmental Protection Agency announced revisions to its standards to reduce air pollution at stationary engines that generate electricity.
On Tuesday, the EPA released revisions to the 2010 “National Emission Standards for Hazardous Air Pollutants for Reciprocating Internal Combustion Engines (RICE),” which it says will reduce capital costs of the original rules by $287 million, and annual costs by $139 million, while reducing 2,800 tons per year of hazardous air pollutants.
EnerNOC helps businesses use less energy through demand response software and services, as well as other products.
EnerNOC announced Tuesday morning that its Chairman and CEO Tim Healy plans to present at the 15th Annual Needham Growth Conference on Wednesday in New York City, and will address the meaning of the EPA rule changes.
In November, the company said that it expected to end 2012 with revenues in the range of $270-$280 million, and a GAAP net loss in the range of 80 to 95 cents per basic and diluted share. For fiscal 2013, it expects revenues of $360-$400 million, and GAAP net income to be in the range of 50 to 75 cents per diluted share.
As of 1:30 p.m., the company was trading at $15.32, up 21 percent from Monday’s close.