Energy Focus (NASDAQ:EFOI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday, November 13th. The brokerage currently has a $3.25 price target on the construction company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 19.49% 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 brokerages also recently commented on EFOI. B. Riley restated a “neutral” rating on shares of Energy Focus in a report on Wednesday, November 1st. HC Wainwright restated a “buy” rating and set a $6.00 target price on shares of Energy Focus in a report on Thursday, August 10th. ValuEngine upgraded Energy Focus from a “strong sell” rating to a “sell” rating in a report on Friday, September 15th. Finally, Roth Capital set a $2.00 target price on Energy Focus and gave the company a “hold” rating in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $3.55.
A hedge fund recently raised its stake in Energy Focus stock. WealthTrust Axiom LLC boosted its position in Energy Focus Inc (NASDAQ:EFOI) by 8.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 461,144 shares of the construction company’s stock after purchasing an additional 36,150 shares during the quarter. WealthTrust Axiom LLC owned approximately 3.89% of Energy Focus worth $1,258,000 at the end of the most recent quarter. 16.71% of the stock is owned by institutional investors and hedge funds.
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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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