Energy Focus, Inc. (NASDAQ:EFOI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report 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. “

Other research analysts have also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of Energy Focus in a research report on Thursday, August 10th. Roth Capital set a $2.00 target price on shares of Energy Focus and gave the stock a “hold” rating in a research report on Friday, October 6th. Finally, ValuEngine cut shares of Energy Focus from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $3.75.

Shares of Energy Focus (EFOI) traded up 2.73% during midday trading on Wednesday, hitting $2.63. 16,860 shares of the stock were exchanged. The firm’s market cap is $31.18 million. The firm has a 50 day moving average of $2.32 and a 200 day moving average of $2.63. Energy Focus has a 12-month low of $1.51 and a 12-month high of $5.32.

Energy Focus (NASDAQ:EFOI) last posted its earnings results on Wednesday, August 9th. The construction company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.15. Energy Focus had a negative net margin of 72.83% and a negative return on equity of 43.27%. The business had revenue of $6.01 million for the quarter, compared to analysts’ expectations of $5.24 million. During the same period in the previous year, the company posted ($0.34) earnings per share. The business’s revenue for the quarter was down 15.6% compared to the same quarter last year. Equities analysts forecast that Energy Focus will post ($0.99) EPS for the current fiscal year.

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An institutional investor recently raised its position in Energy Focus stock. WealthTrust Axiom LLC boosted its stake in Energy Focus, Inc. (NASDAQ:EFOI) by 6.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 424,994 shares of the construction company’s stock after acquiring an additional 26,054 shares during the period. WealthTrust Axiom LLC owned 3.61% of Energy Focus worth $1,117,000 at the end of the most recent reporting period. 16.83% of the stock is owned by hedge funds and other 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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