Energy Focus (EFOI) Stock Rating Upgraded by Zacks Investment Research
Energy Focus (NASDAQ:EFOI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $2.75 price objective on the construction company’s stock. Zacks Investment Research‘s target price would indicate a potential downside of 8.94% from the company’s previous close.
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 subject of a number of other reports. Roth Capital set a $2.00 price objective on shares of Energy Focus and gave the company a “hold” rating in a research note on Friday, October 6th. ValuEngine upgraded shares of Energy Focus from a “strong sell” rating to a “sell” rating in a research note on Friday, September 15th. B. Riley reiterated a “neutral” rating on shares of Energy Focus in a research note on Wednesday, November 1st. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Energy Focus in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Energy Focus has a consensus rating of “Hold” and an average target price of $3.45.
An institutional investor recently raised its position in Energy Focus stock. WealthTrust Axiom LLC raised its position in Energy Focus Inc (NASDAQ:EFOI) by 8.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 461,144 shares of the construction company’s stock after purchasing an additional 36,150 shares during the period. WealthTrust Axiom LLC owned 3.89% of Energy Focus worth $1,258,000 at the end of the most recent reporting period. 16.50% of the stock is owned by institutional investors and hedge funds.
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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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