Shares of Energy Focus Inc. (NASDAQ:EFOI) dropped 3% on Friday . The stock traded as low as $5.55 and last traded at $5.56, with a volume of 103,236 shares trading hands. The stock had previously closed at $5.73.

EFOI has been the topic of several recent research reports. FBR & Co decreased their target price on shares of Energy Focus from $21.50 to $12.00 and set an “outperform” rating on the stock in a research report on Thursday, March 31st. Zacks Investment Research lowered shares of Energy Focus from a “hold” rating to a “sell” rating in a research report on Wednesday, April 6th. Finally, Canaccord Genuity restated a “hold” rating on shares of Energy Focus in a research report on Thursday, May 12th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $17.83.

The firm has a 50-day moving average price of $5.94 and a 200 day moving average price of $8.34. The company has a market capitalization of $65.13 million and a P/E ratio of 11.00.

Energy Focus (NASDAQ:EFOI) last released its earnings results on Wednesday, May 11th. The company reported ($0.17) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.04. The company had revenue of $8.40 million for the quarter, compared to the consensus estimate of $8.19 million. Energy Focus’s quarterly revenue was down 33.1% on a year-over-year basis. On average, analysts anticipate that Energy Focus Inc. will post ($0.12) EPS for the current year.

An institutional investor recently raised its position in Energy Focus stock. Morgan Stanley raised its position in shares of Energy Focus Inc. (NASDAQ:EFOI) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 84,827 shares of the company’s stock after buying an additional 7,210 shares during the period. Morgan Stanley owned about 0.73% of Energy Focus worth $1,166,000 as of its most recent filing with the SEC.

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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