Zacks Investment Research Upgrades Energy Focus, Inc. (EFOI) to Buy
Energy Focus, Inc. (NASDAQ:EFOI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $3.25 price objective on the construction company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 19.49% from the company’s current price.
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. “
EFOI has been the topic of a number of other reports. Roth Capital set a $2.00 target price on Energy Focus and gave the stock a “hold” rating in a report on Friday, October 6th. ValuEngine raised Energy Focus from a “strong sell” rating to a “sell” rating in a report on Friday, September 15th. B. Riley reaffirmed a “neutral” rating on shares of Energy Focus in a report on Wednesday, November 1st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Energy Focus in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $3.79.
Energy Focus (NASDAQ:EFOI) opened at $2.72 on Monday. Energy Focus has a fifty-two week low of $1.51 and a fifty-two week high of $5.32.
A hedge fund recently raised its stake in Energy Focus stock. WealthTrust Axiom LLC lifted its stake in Energy Focus, Inc. (NASDAQ:EFOI) by 6.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 424,994 shares of the construction company’s stock after purchasing an additional 26,054 shares during the quarter. WealthTrust Axiom LLC owned 3.61% of Energy Focus worth $1,117,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 17.12% of the company’s stock.
About Energy Focus
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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