Energy Focus (NASDAQ:EFOI) Upgraded to “Hold” at Zacks Investment Research

Energy Focus (NASDAQ:EFOI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

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. “

Separately, HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of Energy Focus in a research note on Friday, August 13th.

EFOI traded up $0.15 during trading hours on Wednesday, hitting $2.97. 86,532 shares of the company’s stock were exchanged, compared to its average volume of 637,915. Energy Focus has a 12-month low of $2.60 and a 12-month high of $11.60. The firm has a 50 day moving average of $3.23 and a 200 day moving average of $3.77. The firm has a market cap of $15.10 million, a P/E ratio of -2.15 and a beta of 2.37.

Energy Focus (NASDAQ:EFOI) last announced its earnings results on Thursday, August 12th. The construction company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.32). Energy Focus had a negative return on equity of 136.56% and a negative net margin of 36.16%. The business had revenue of $2.07 million for the quarter, compared to analysts’ expectations of $3.89 million. Analysts predict that Energy Focus will post -1.58 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of EFOI. Citadel Advisors LLC acquired a new position in Energy Focus during the 1st quarter worth approximately $144,000. Squarepoint Ops LLC acquired a new position in Energy Focus during the 1st quarter worth approximately $84,000. Vanguard Group Inc. grew its holdings in Energy Focus by 66.8% during the 2nd quarter. Vanguard Group Inc. now owns 121,409 shares of the construction company’s stock worth $483,000 after acquiring an additional 48,621 shares in the last quarter. Geode Capital Management LLC grew its holdings in Energy Focus by 61.2% during the 2nd quarter. Geode Capital Management LLC now owns 24,965 shares of the construction company’s stock worth $99,000 after acquiring an additional 9,479 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Energy Focus in the 2nd quarter valued at $41,000. Institutional investors own 5.68% of the company’s stock.

About Energy Focus

Energy Focus, Inc engages in the design, development, and manufacture of energy-efficient lighting systems. It operates through the marketing and sale of commercial, industrial, and military maritime lighting products and research and development services. The company was founded in 1985 and is headquartered in Solon, OH.

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