Roth Capital Trims PT on Energy Focus (EFOI) to $5 Following Q2 Results
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Roth Capital trims its price target on Neutral-rated Energy Focus (NASDAQ: EFOI) from $6 down to $5 after the company reported Q2 results on Thursday.
Analyst Craig Irwin commented,
Energy Focus reported disappointing 2Q16 results, and issued revenue guidance well below consensus estimates. Without a major rebound in Navy revenue, which we see as unlikely, Energy Focus will likely start burning more cash into 2017. Available cash of $25m does give the company some flexibility to reposition, but we remain cautious waiting for tangible evidence of a return to future profitability.
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