Energy Focus, Inc. (NASDAQ:EFOI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm currently has a $2.25 target price on the construction company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 14.21% from the company’s current price.

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. “

A number of other analysts also recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Energy Focus in a report on Thursday. FBR & Co reduced their price target on shares of Energy Focus from $4.50 to $3.50 and set a “mkt perform” rating for the company in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Energy Focus presently has an average rating of “Hold” and an average price target of $5.96.

Shares of Energy Focus (NASDAQ:EFOI) traded up 1.03% during trading on Friday, reaching $1.97. 41,016 shares of the company’s stock were exchanged. The company has a 50 day moving average of $2.23 and a 200 day moving average of $3.12. The firm’s market capitalization is $23.35 million. Energy Focus has a 52-week low of $1.51 and a 52-week high of $5.50.

Energy Focus (NASDAQ:EFOI) last issued its quarterly earnings results on Wednesday, August 9th. The construction company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.15. Energy Focus had a negative net margin of 72.83% and a negative return on equity of 40.33%. The firm had revenue of $6.01 million during the quarter, compared to the consensus estimate of $5.24 million. During the same period in the prior year, the firm earned ($0.34) EPS. The business’s revenue was down 15.6% on a year-over-year basis. Equities analysts anticipate that Energy Focus will post ($1.05) earnings per share for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in EFOI. VIEX Capital Advisors LLC acquired a new position in Energy Focus during the first quarter worth approximately $112,000. Herald Investment Management Ltd acquired a new position in Energy Focus during the first quarter worth approximately $235,000. Cambridge Advisors Inc. increased its position in Energy Focus by 3.0% in the first quarter. Cambridge Advisors Inc. now owns 92,778 shares of the construction company’s stock worth $305,000 after buying an additional 2,732 shares during the last quarter. Finally, WealthTrust Axiom LLC increased its position in Energy Focus by 6.0% in the first quarter. WealthTrust Axiom LLC now owns 398,940 shares of the construction company’s stock worth $1,312,000 after buying an additional 22,750 shares during the last quarter. 18.18% of the stock is owned by institutional investors.

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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