Energy Focus (NASDAQ:EFOI) Stock Crosses Below 200-Day Moving Average of $3.31

Energy Focus, Inc. (NASDAQ:EFOI)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.31 and traded as low as $2.52. Energy Focus shares last traded at $2.55, with a volume of 804,439 shares traded.

Separately, Zacks Investment Research upgraded Energy Focus from a “hold” rating to a “buy” rating and set a $2.75 price objective for the company in a report on Thursday, November 18th.

The company has a fifty day simple moving average of $3.11 and a two-hundred day simple moving average of $3.30. The company has a market capitalization of $13.57 million, a P/E ratio of -1.74 and a beta of 2.55.

Energy Focus (NASDAQ:EFOI) last posted its earnings results on Friday, November 12th. The construction company reported ($0.22) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.08. Energy Focus had a negative return on equity of 117.70% and a negative net margin of 46.31%. The company had revenue of $2.75 million for the quarter, compared to analyst estimates of $3.69 million. During the same period last year, the company earned ($0.35) earnings per share. Equities research analysts anticipate that Energy Focus, Inc. will post -1.46 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of EFOI. Vanguard Group Inc. raised its holdings in Energy Focus by 66.8% during the second quarter. Vanguard Group Inc. now owns 121,409 shares of the construction company’s stock valued at $483,000 after buying an additional 48,621 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Energy Focus by 61.2% in the second quarter. Geode Capital Management LLC now owns 24,965 shares of the construction company’s stock valued at $99,000 after purchasing an additional 9,479 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Energy Focus in the second quarter valued at about $41,000. International Assets Investment Management LLC grew its position in shares of Energy Focus by 25.5% in the third quarter. International Assets Investment Management LLC now owns 80,300 shares of the construction company’s stock valued at $249,000 after purchasing an additional 16,300 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Energy Focus in the third quarter valued at about $99,000. Institutional investors own 8.43% of the company’s stock.

Energy Focus Company Profile (NASDAQ:EFOI)

Energy Focus, Inc engages in the design, development, and manufacture of energy-efficient lighting systems. It operates through the marketing and sale of commercial, industrial, and military maritime lighting products and research and development services. The company was founded in 1985 and is headquartered in Solon, OH.

Further Reading: Outperform Rating

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