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 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 also recently weighed in on EFOI. FBR & Co reissued a “buy” rating on shares of Energy Focus in a report on Wednesday, June 22nd. Benchmark Co. downgraded shares of Energy Focus from a “buy” rating to a “hold” rating in a report on Friday, August 12th. Oppenheimer Holdings Inc. downgraded shares of Energy Focus from a “buy” rating to a “hold” rating in a report on Friday, August 12th. Rodman & Renshaw upped their price target on shares of 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 reissued 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 equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.42.
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Shares of Energy Focus (NASDAQ:EFOI) traded up 7.86% during midday trading on Monday, hitting $4.53. 93,242 shares of the stock were exchanged. The stock’s 50-day moving average price is $4.16 and its 200 day moving average price is $5.75. The stock’s market cap is $52.96 million. Energy Focus has a one year low of $3.61 and a one year high of $20.00.
Energy Focus (NASDAQ:EFOI) last announced its earnings results on Thursday, August 11th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by $0.25. The company earned $7.10 million during the quarter, compared to the consensus estimate of $11.07 million. Energy Focus had a negative net margin of 0.71% and a positive return on equity of 0.35%. The company’s revenue was down 56.2% on a year-over-year basis. On average, analysts anticipate that Energy Focus will post ($0.97) earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of EFOI. Menta Capital LLC raised its stake in Energy Focus by 10.2% in the second quarter. Menta Capital LLC now owns 19,410 shares of the company’s stock worth $121,000 after buying an additional 1,800 shares in the last quarter. BlackRock Fund Advisors raised its stake in Energy Focus by 48.8% in the second quarter. BlackRock Fund Advisors now owns 25,421 shares of the company’s stock worth $159,000 after buying an additional 8,334 shares in the last quarter. Cambridge Advisors Inc. raised its stake in Energy Focus by 27.1% in the fourth quarter. Cambridge Advisors Inc. now owns 42,435 shares of the company’s stock worth $583,000 after buying an additional 9,047 shares in the last quarter. Geode Capital Management LLC raised its stake in Energy Focus by 3.5% in the first quarter. Geode Capital Management LLC now owns 44,373 shares of the company’s stock worth $329,000 after buying an additional 1,487 shares in the last quarter. Finally, New Jersey Better Educational Savings Trust purchased a new stake in Energy Focus during the second quarter worth approximately $300,000. 17.11% of the stock is owned by institutional investors.
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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