Energy Focus, Inc. (NASDAQ:EFOI) Sees Significant Decline in Short Interest

Energy Focus, Inc. (NASDAQ:EFOI) saw a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 376,700 shares, a decrease of 65.4% from the December 15th total of 1,090,000 shares. Based on an average daily volume of 4,550,000 shares, the short-interest ratio is presently 0.1 days.

Separately, Zacks Investment Research upgraded shares of Energy Focus from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a research report on Thursday, November 18th.

Energy Focus stock traded down $0.18 during trading hours on Friday, reaching $2.16. 590,286 shares of the company’s stock traded hands, compared to its average volume of 2,410,056. The firm has a market capitalization of $13.56 million, a price-to-earnings ratio of -1.73 and a beta of 2.55. The firm’s 50 day moving average is $3.09 and its 200-day moving average is $3.29. Energy Focus has a fifty-two week low of $1.90 and a fifty-two week high of $9.64.

Energy Focus (NASDAQ:EFOI) last announced its quarterly earnings results on Friday, November 12th. The construction company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.08. The business had revenue of $2.75 million for the quarter, compared to the consensus estimate of $3.69 million. Energy Focus had a negative net margin of 46.31% and a negative return on equity of 117.70%. During the same period last year, the company posted ($0.35) EPS. On average, analysts forecast that Energy Focus will post -1.46 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of Energy Focus by 61.2% in the 2nd quarter. Geode Capital Management LLC now owns 24,965 shares of the construction company’s stock valued at $99,000 after acquiring an additional 9,479 shares during the period. Virtu Financial LLC acquired a new stake in shares of Energy Focus in the 2nd quarter valued at approximately $41,000. International Assets Investment Management LLC increased its stake in Energy Focus by 25.5% during the 3rd quarter. International Assets Investment Management LLC now owns 80,300 shares of the construction company’s stock worth $249,000 after purchasing an additional 16,300 shares in the last quarter. Citadel Advisors LLC bought a new stake in Energy Focus during the 3rd quarter worth approximately $99,000. Finally, Millennium Management LLC bought a new stake in Energy Focus during the 3rd quarter worth approximately $147,000. Institutional investors and hedge funds own 8.43% of the company’s stock.

Energy Focus Company Profile

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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