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EnerNOC shareholder Periam discloses 5.5% stake, says shares undervalued

Published 04/18/2017, 10:19 AM
© Reuters.  EnerNOC shareholder Periam discloses 5.5% stake, says shares undervalued
ENOC
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  • EnerNOC (ENOC +0.5%) is higher after Periam Ltd. discloses a 5.5% stake in the company and nominates two directors to the board.
  • Periam believes ENOC shares are "deeply undervalued" and represent an attractive investment opportunity, but is "particularly shocked by management's poorly executed foray into energy intelligence software."
  • Periam recommends achieving improved value through more aggressive operational and financial restructuring, completion of a comprehensive strategic review, and improved transparency through more detailed segment-level financial disclosures.


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