Energy Focus Inc. (EFOI) Lifted to “Hold” at Zacks Investment Research
Energy Focus Inc. (NASDAQ:EFOI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Energy Focus designs, develops, manufactures and markets fiber optic lighting systems for wide-ranging uses in both the general commercial and the pool and spa lighting markets. Energy Focus’ EFO system, introduced offers energy savings, heat dissipation and maintenance cost benefits over conventional lighting for multiple applications. “
A number of other brokerages have also commented on EFOI. FBR & Co restated a “buy” rating on shares of Energy Focus in a report on Wednesday, June 22nd. Benchmark Co. lowered Energy Focus from a “buy” rating to a “hold” rating in a report on Friday, August 12th. Oppenheimer Holdings Inc. lowered Energy Focus from a “buy” rating to a “hold” rating in a report on Friday, August 12th. Rodman & Renshaw boosted their price target on Energy Focus from $8.00 to $16.00 and gave the company a “buy” rating in a report on Monday, August 15th. Finally, Roth Capital restated a “neutral” rating and issued a $5.00 price target (down from $6.00) on shares of Energy Focus in a report on Sunday, August 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $11.42.
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Energy Focus (NASDAQ:EFOI) traded up 7.86% during mid-day trading on Monday, reaching $4.53. The company’s stock had a trading volume of 93,242 shares. The company has a 50 day moving average of $4.16 and a 200-day moving average of $5.75. The stock’s market cap is $52.96 million. Energy Focus has a 52-week low of $3.61 and a 52-week high of $20.00.
Energy Focus (NASDAQ:EFOI) last posted its earnings results on Thursday, August 11th. The company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by $0.25. The business had revenue of $7.10 million for the quarter, compared to the consensus estimate of $11.07 million. Energy Focus had a positive return on equity of 0.35% and a negative net margin of 0.71%. The company’s revenue was down 56.2% compared to the same quarter last year. Equities analysts forecast that Energy Focus will post ($0.97) earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in EFOI. Vanguard Group Inc. raised its stake in Energy Focus by 59.9% in the second quarter. Vanguard Group Inc. now owns 459,099 shares of the company’s stock valued at $2,865,000 after buying an additional 172,041 shares during the last quarter. WealthTrust Axiom LLC increased its position in shares of Energy Focus by 70.6% in the second quarter. WealthTrust Axiom LLC now owns 257,706 shares of the company’s stock worth $1,608,000 after buying an additional 106,606 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Energy Focus during the second quarter worth $380,000. Barclays PLC increased its position in shares of Energy Focus by 249.8% in the first quarter. Barclays PLC now owns 73,100 shares of the company’s stock worth $511,000 after buying an additional 52,200 shares during the period. Finally, New Jersey Better Educational Savings Trust acquired a new position in shares of Energy Focus during the second quarter worth $300,000. Institutional investors and hedge funds own 17.11% of the company’s stock.
Energy Focus Company Profile
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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