Energy Focus (NASDAQ:EFOI) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Energy Focus (NASDAQ:EFOI) from a strong sell rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

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. “

Separately, HC Wainwright reissued a buy rating and issued a $11.00 price objective on shares of Energy Focus in a research note on Friday, August 13th.

Shares of NASDAQ:EFOI opened at $2.97 on Wednesday. Energy Focus has a 52-week low of $2.60 and a 52-week high of $11.60. The stock has a market cap of $15.10 million, a P/E ratio of -2.15 and a beta of 2.37. The business’s 50 day moving average is $3.21 and its 200 day moving average is $3.77.

Energy Focus (NASDAQ:EFOI) last announced its quarterly earnings data on Thursday, August 12th. The construction company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.32). Energy Focus had a negative return on equity of 136.56% and a negative net margin of 36.16%. The firm had revenue of $2.07 million during the quarter, compared to the consensus estimate of $3.89 million. As a group, sell-side analysts anticipate that Energy Focus will post -1.58 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in Energy Focus by 61.2% during the 2nd quarter. Geode Capital Management LLC now owns 24,965 shares of the construction company’s stock valued at $99,000 after acquiring an additional 9,479 shares in the last quarter. Virtu Financial LLC bought a new stake in Energy Focus during the 2nd quarter valued at $41,000. Squarepoint Ops LLC bought a new stake in Energy Focus during the 1st quarter valued at $84,000. Citadel Advisors LLC bought a new stake in Energy Focus during the 1st quarter valued at $144,000. Finally, Vanguard Group Inc. boosted its position in Energy Focus by 66.8% during the 2nd quarter. Vanguard Group Inc. now owns 121,409 shares of the construction company’s stock valued at $483,000 after acquiring an additional 48,621 shares in the last quarter. 5.68% of the stock is currently owned by institutional investors and hedge funds.

About Energy Focus

Energy Focus, Inc engages in the design, development, and manufacture of energy-efficient lighting systems. It operates through the marketing and sale of commercial, industrial, and military maritime lighting products and research and development services. The company was founded in 1985 and is headquartered in Solon, OH.

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