Energy Focus (NASDAQ:EFOI) Share Price Passes Above 200 Day Moving Average – Here’s Why

Energy Focus, Inc. (NASDAQ:EFOI) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.68 and traded as high as $3.25. Energy Focus shares last traded at $3.10, with a volume of 15,007 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Energy Focus from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Energy Focus currently has an average rating of “Sell”.

Energy Focus Stock Performance

The company’s 50-day moving average is $3.63 and its 200-day moving average is $2.68. The firm has a market cap of $18.59 million, a price-to-earnings ratio of -19.67 and a beta of 2.15.

Energy Focus (NASDAQ:EFOI) last announced its earnings results on Tuesday, May 12th. The construction company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.82) by $1.80. Energy Focus had a negative net margin of 23.09% and a negative return on equity of 25.63%. The company had revenue of $0.95 million during the quarter, compared to the consensus estimate of $3.49 million.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. DRW Securities LLC acquired a new stake in shares of Energy Focus in the 4th quarter valued at $37,000. Renaissance Technologies LLC bought a new position in Energy Focus in the fourth quarter valued at about $27,000. Finally, Citadel Advisors LLC bought a new position in Energy Focus in the third quarter valued at about $37,000. 3.67% of the stock is currently owned by institutional investors.

About Energy Focus

Energy Focus, Inc is a United States–based innovator in sustainable lighting and disinfection solutions. The company designs, manufactures and sells high-performance LED lighting fixtures and lamps tailored for commercial, industrial and specialty applications. In addition to energy-efficient illumination products, Energy Focus offers ultraviolet-C (UV-C) germicidal lighting systems designed to inactivate microbes on surfaces and in the air, addressing growing demand for hygienic environments in healthcare, education, transportation and other sectors.

Founded in 1985 as a spin-out of U.S.