Energy Focus Inc (EFOI) Releases Earnings Results, Beats Estimates By $0.15 EPS
Energy Focus Inc (NASDAQ:EFOI) released its earnings results on Wednesday. The construction company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.15, Morningstar.com reports. Energy Focus had a negative net margin of 110.13% and a negative return on equity of 65.57%. The company had revenue of $6.01 million for the quarter, compared to analysts’ expectations of $5.24 million. During the same quarter in the previous year, the company earned ($0.34) EPS. Energy Focus’s revenue for the quarter was down 15.6% on a year-over-year basis.
Energy Focus (NASDAQ:EFOI) traded up 1.0298% on Thursday, hitting $2.0307. 3,943 shares of the company were exchanged. The firm’s 50 day moving average is $2.25 and its 200 day moving average is $3.15. The company’s market capitalization is $23.92 million. Energy Focus has a 52 week low of $1.89 and a 52 week high of $5.50.
EFOI has been the topic of a number of analyst reports. HC Wainwright set a $6.00 target price on shares of Energy Focus and gave the company a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Energy Focus from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, FBR & Co lowered their target price on shares of Energy Focus from $4.50 to $3.50 and set a “mkt perform” rating on the stock in a research note on Friday, May 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $6.70.
Hedge funds have recently added to or reduced their stakes in the stock. VIEX Capital Advisors LLC purchased a new stake in Energy Focus during the first quarter valued at approximately $112,000. Herald Investment Management Ltd purchased a new stake in Energy Focus during the first quarter valued at approximately $235,000. Cambridge Advisors Inc. raised its stake in Energy Focus by 3.0% in the first quarter. Cambridge Advisors Inc. now owns 92,778 shares of the construction company’s stock valued at $305,000 after buying an additional 2,732 shares in the last quarter. Finally, WealthTrust Axiom LLC raised its stake in Energy Focus by 6.0% in the first quarter. WealthTrust Axiom LLC now owns 398,940 shares of the construction company’s stock valued at $1,312,000 after buying an additional 22,750 shares in the last quarter. Institutional investors own 18.18% of the company’s stock.
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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