Energy Focus (NASDAQ:EFOI) Upgraded at HC Wainwright
HC Wainwright upgraded shares of Energy Focus (NASDAQ:EFOI) to a buy rating in a research report sent to investors on Monday, The Fly reports. They currently have $2.75 price target on the construction company’s stock.
“We are upgrading our rating on Review based on several new developments over the past few months including: (1) the return of former CEO, James Tu, as the new CEO, under whom the company had dominated the military market and began penetration into the commercial segment; (2) expectations of margin and revenue improvements; (3) reorganization of the sales force under the newly appointed (4) improvements in inventory management and component sourcing to make products more price competitive in the market; and (5) anticipated new product launches over the next few months. In line with our rating change, we are establishing a $2.75 price target for the company. Please see our valuation section for assumptions on our projections. Key takeaways.”,” the firm’s analyst wrote.
Separately, Zacks Investment Research cut Energy Focus from a hold rating to a sell rating in a report on Monday, July 29th.
Energy Focus (NASDAQ:EFOI) last released its earnings results on Friday, September 13th. The construction company reported ($0.18) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.18). The company had revenue of $3.08 million for the quarter. Energy Focus had a negative return on equity of 88.66% and a negative net margin of 69.05%.
A hedge fund recently raised its stake in Energy Focus stock. Vanguard Group Inc. boosted its stake in Energy Focus Inc (NASDAQ:EFOI) by 31.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 145,247 shares of the construction company’s stock after buying an additional 34,742 shares during the quarter. Vanguard Group Inc. owned approximately 1.17% of Energy Focus worth $59,000 as of its most recent filing with the SEC. 13.38% of the stock is owned by institutional investors.
About Energy Focus
Energy Focus, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and sells energy-efficient lighting systems in the United States and internationally. It offers various light-emitting diode (LED) lighting technologies, including military maritime products, such as Military Intellitube, globe lights, berth lights, and fixtures to serve the United States navy and allied foreign navies.
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