Zacks Investment Research lowered shares of Energy Focus (NASDAQ:EFOI) from a buy rating to a hold rating in a report published on Tuesday.
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. “
Other equities research analysts also recently issued reports about the company. HC Wainwright reaffirmed a buy rating and set a $6.00 price target on shares of Energy Focus in a research report on Thursday, November 9th. B. Riley set a $3.00 price target on Energy Focus and gave the stock a hold rating in a research report on Thursday, November 30th. Roth Capital set a $2.00 price target on Energy Focus and gave the stock a hold rating in a research report on Friday, October 6th. Finally, ValuEngine raised Energy Focus from a strong sell rating to a sell rating in a research report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $3.45.
A hedge fund recently raised its stake in Energy Focus stock. WealthTrust Axiom LLC increased its holdings in shares of Energy Focus Inc (NASDAQ:EFOI) by 8.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 461,144 shares of the construction company’s stock after acquiring an additional 36,150 shares during the period. WealthTrust Axiom LLC owned approximately 3.89% of Energy Focus worth $1,258,000 as of its most recent SEC filing. Institutional investors own 16.50% of the company’s stock.
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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