Energy Focus (NASDAQ:EFOI) Issues Earnings Results, Misses Expectations By $0.11 EPS

Energy Focus (NASDAQ:EFOI – Get Rating) released its quarterly earnings results on Thursday. The construction company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.11), MarketWatch Earnings reports. Energy Focus had a negative return on equity of 161.01% and a negative net margin of 79.94%. During the same quarter last year, the firm earned ($0.45) EPS.

Shares of EFOI stock traded up $0.06 during trading hours on Friday, hitting $0.86. 141,141 shares of the company were exchanged, compared to its average volume of 318,929. The firm has a market cap of $5.54 million, a PE ratio of -0.49 and a beta of 2.85. Energy Focus has a 1 year low of $0.76 and a 1 year high of $8.17. The firm has a fifty day moving average of $1.27 and a 200 day moving average of $2.08.

Several research firms have issued reports on EFOI. Zacks Investment Research cut shares of Energy Focus from a “buy” rating to a “hold” rating in a research note on Monday, January 17th. HC Wainwright decreased their price target on shares of Energy Focus from $11.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, March 18th. Finally, StockNews.com began coverage on shares of Energy Focus in a research note on Sunday, May 8th. They set a “sell” rating on the stock.

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Energy Focus by 207.3% during the 3rd quarter. Geode Capital Management LLC now owns 76,711 shares of the construction company’s stock worth $238,000 after acquiring an additional 51,746 shares during the period. Millennium Management LLC purchased a new position in shares of Energy Focus during the 3rd quarter worth about $147,000. Citadel Advisors LLC purchased a new position in shares of Energy Focus during the 3rd quarter worth about $99,000. Virtu Financial LLC purchased a new position in shares of Energy Focus during the 4th quarter worth about $93,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Energy Focus during the 4th quarter worth about $83,000. Institutional investors and hedge funds own 16.14% of the company’s stock.

About Energy Focus (Get Rating)

Energy Focus, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and sells energy-efficient lighting systems, and controls and ultraviolet-C light disinfection products in the United States and internationally. It offers military maritime market light-emitting diode (LED) lighting products, such as Military-grade Intellitube retrofit TLED and the Invisitube ultra-low EMI TLED; and Military-grade fixtures, including LED globe lights, berth lights; high-bay fixtures and LED retrofit kits to serve the United States navy and allied foreign navies.

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