Energy Focus, Inc. (NASDAQ:EFOI) issued its quarterly earnings results on Wednesday, August 9th. The construction company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.15, Morningstar.com reports. Energy Focus had a negative net margin of 72.83% and a negative return on equity of 43.27%. The business had revenue of $6.01 million for the quarter, compared to analysts’ expectations of $5.24 million. During the same period last year, the business earned ($0.34) earnings per share. The business’s quarterly revenue was down 15.6% on a year-over-year basis.
Shares of Energy Focus (NASDAQ:EFOI) traded down 1.00% on Friday, hitting $1.99. 15,442 shares of the stock traded hands. The firm has a 50 day moving average price of $2.17 and a 200 day moving average price of $3.03. Energy Focus has a 52-week low of $1.51 and a 52-week high of $5.50. The firm’s market cap is $23.59 million.
Several institutional investors have recently added to or reduced their stakes in the stock. VIEX Capital Advisors LLC bought a new position in Energy Focus during the first quarter valued at $112,000. Herald Investment Management Ltd bought a new position in Energy Focus during the first quarter valued at $235,000. WealthTrust Axiom LLC increased its position in Energy Focus by 6.5% in the second quarter. WealthTrust Axiom LLC now owns 424,994 shares of the construction company’s stock valued at $1,117,000 after buying an additional 26,054 shares in the last quarter. Finally, Cambridge Advisors Inc. increased its position in shares of 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 during the period. 18.13% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have commented on EFOI shares. FBR & Co reduced their price target on shares of Energy Focus from $4.50 to $3.50 and set a “mkt perform” rating on the stock in a research report on Friday, May 5th. Zacks Investment Research cut shares of Energy Focus from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Finally, HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of Energy Focus in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Energy Focus presently has an average rating of “Hold” and an average target price of $3.95.
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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