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. “
Several other research analysts have also weighed in on the company. Roth Capital reaffirmed a “neutral” rating and issued a $5.00 target price (down from $6.00) on shares of Energy Focus in a research report on Sunday, August 14th. FBR & Co lowered Energy Focus from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $10.00 to $5.00 in a research report on Monday, August 15th. Benchmark Co. lowered Energy Focus from a “buy” rating to a “hold” rating in a research report on Friday, August 12th. Oppenheimer Holdings Inc. lowered Energy Focus from a “buy” rating to a “hold” rating in a research report on Friday, August 12th. Finally, Rodman & Renshaw upped their target price on Energy Focus from $8.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, August 15th. One equities research 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 has an average rating of “Hold” and an average price target of $11.42.
Energy Focus (NASDAQ:EFOI) traded up 7.86% during trading on Monday, reaching $4.53. The company had a trading volume of 93,242 shares. The company’s market capitalization is $52.96 million. Energy Focus has a 12 month low of $3.61 and a 12 month high of $20.00. The stock has a 50 day moving average of $4.16 and a 200-day moving average of $5.75.
Energy Focus (NASDAQ:EFOI) last announced its quarterly earnings data on Thursday, August 11th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by $0.25. The business earned $7.10 million during the quarter, compared to analysts’ expectations of $11.07 million. Energy Focus had a positive return on equity of 0.35% and a negative net margin of 0.71%. Energy Focus’s quarterly revenue was down 56.2% on a year-over-year basis. Equities research analysts expect that Energy Focus will post ($0.97) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of 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. 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 during the period. 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 during the period. New Jersey Better Educational Savings Trust acquired a new stake in Energy Focus during the second quarter worth about $300,000. Finally, Barclays PLC raised its stake in 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. 17.11% of the stock is currently owned by institutional investors and hedge funds.
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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