Energy Focus, Inc. (NASDAQ:EFOI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Energy Focus, Inc. is a leading provider and innovator of energy efficient LED lighting products. As the creator of the only 100-percent flicker-free LED products on the market, Energy Focus products provide extensive energy savings, aesthetics, safety and health benefits over conventional and fluorescent lighting. As a longstanding partner with the US Government providing energy efficient LED lighting products to the U.S. Navy and the Military Sealift Command fleets, Energy Focus products go through rigorous testing in the most adverse conditions possible and still have a zero percent failure rate. In the commercial sphere, customers include national, state and local U.S. government agencies as well as Fortune 500 companies across education, healthcare, retail and manufacturing. Energy Focus is headquartered in Solon, Ohio, with additional sales offices in Washington, D.C., New York and Taiwan. “
EFOI has been the topic of several other reports. ValuEngine upgraded shares of Energy Focus from a “strong sell” rating to a “sell” rating in a report on Friday, September 15th. Roth Capital set a $2.00 price objective on shares of Energy Focus and gave the stock a “hold” rating in a report on Friday, October 6th. Finally, HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Energy Focus in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $3.75.
Shares of Energy Focus (NASDAQ:EFOI) traded up 2.73% during midday trading on Wednesday, hitting $2.63. 16,860 shares of the company’s stock were exchanged. Energy Focus has a one year low of $1.51 and a one year high of $5.32. The stock’s 50-day moving average price is $2.32 and its 200 day moving average price is $2.63. The firm’s market cap is $31.18 million.
Energy Focus (NASDAQ:EFOI) last announced its quarterly earnings data on Wednesday, August 9th. The construction company reported ($0.17) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.15. The business had revenue of $6.01 million for the quarter, compared to analyst estimates of $5.24 million. Energy Focus had a negative net margin of 72.83% and a negative return on equity of 43.27%. The company’s revenue was down 15.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.34) EPS. Equities research analysts forecast that Energy Focus will post ($0.99) EPS for the current year.
A hedge fund recently raised its stake in Energy Focus stock. WealthTrust Axiom LLC raised its position in Energy Focus, Inc. (NASDAQ:EFOI) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 424,994 shares of the construction company’s stock after acquiring an additional 26,054 shares during the quarter. WealthTrust Axiom LLC owned 3.61% of Energy Focus worth $1,117,000 at the end of the most recent quarter. 16.83% of the stock is owned by hedge funds and other institutional investors.
About Energy Focus
Energy Focus, Inc along with its subsidiaries is engaged in the design, development, manufacturing, marketing, installation and sale of lighting systems. The Company is engaged in developing and selling of light-emitting diode (LED) lighting products for military maritime market, and general commercial and industrial markets.
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