Energy Focus Inc (EFOI) was Downgraded by FBR Capital to ” Mkt Perform” while Lowering the Price Target of the company shares to $ 5 from a previous price target of $10 . Earlier the firm had a rating of “Outperform ” on the company shares. FBR Capital advised their investors in a research report released on Aug 15, 2016.
On the company’s financial health, Energy Focus Inc reported $-0.34 EPS for the quarter, missing the analyst consensus estimate by $ -0.25 based on the information available during the earnings call on Aug 11, 2016. Analyst had a consensus of $-0.09. The company had revenue of $7.10 million for the quarter, compared to analysts expectations of $11.07 million. The company’s revenue was down -56.2 % compared to the same quarter last year.
Energy Focus Inc closed down -0.19 points or -3.92% at $4.66 with 1,92,651 shares getting traded on Friday. Post opening the session at $4.71, the shares hit an intraday low of $4.61 and an intraday high of $4.8 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Apr 27, 2016, William Cohen (director) purchased 1,259 shares at $7.88 per share price. According to the SEC, on Mar 16, 2016, Michael Rush Ramelot (director) purchased 3,000 shares at $8.05 per share price. On Sep 18, 2015, Jiangang Luo (director) sold 391,304 shares at $15.98 per share price, according to the Form-4 filing with the securities and exchange commission.
Energy Focus Inc. and its subsidiaries designs develops manufactures and markets energy-efficient light emitting diode (LED) lighting products and is a provider of turnkey energy-efficient lighting retrofit solutions in the governmental and public sector market and general commercial market. The Company operates in two segments: Products providing military general commercial and industrial energy-efficient LED lighting offerings; and Solutions providing turnkey high-quality energy-efficient LED lighting application alternatives primarily to the existing public-sector building market. The Companys services include comprehensive lighting and energy audits lighting design and solution development turnkey lighting implementation Leadership in Energy & Environmental Design (LEED) ready lighting upgrades and pre and post upgrade monitoring and measurement.