It’s a good day for Energy Focus Inc (NASDAQ:EFOI) shareholders as well, as the company managed to beat analyst estimates in its latest financial report. The manufacturer of lighting products posted net income of $0.40 per share, easily beating Wall Street’s expectations of $0.13 per share. This came on the back of record sales of $18.3 million, up by 151% year-over-year, and were above expectations of $16.2 million. Energy Focus also managed to improve its margins, which stood at 49.8%, by 15.6 percentage points year-over-year. Shares jumped by as much as 29% in the opening hour today.
According to our database, only Brandon Osten’s Venator Capital Management held a stake in Energy Focus Inc (NASDAQ:EFOI) at the end of the second quarter, having reported ownership of 68,502 shares. The stock is currently trading at a trailing Price to Earnings (P/E) ratio of 83.xx, significantly higher than the industry average of 35.10. Analysts at Roth Capital and H.C. Wainwright recommend it as a ‘Buy’ and have set an average price target of $24.50 per share on it.
Although Vonage Holdings Corp. (NYSE:VG) only managed to meet analysts’ expectations, investors have still reacted positively and have pushed the stock up by as much as 18% so far today. The company registered revenues of $223 million, up by 4.2% year-over-year, and a profit of $0.06 per share, when adjusted for amortization costs and pretax expenses. The provider of communications solutions has also said that it expects full-year revenues to range between $891 million-and-$895 million.
At the end of June, 16 of the funds we track were invested in Vonage Holdings Corp. (NYSE:VG) and held roughly 7.8% of the company’s common stock. Jim Simons is a big fan, as his fund, Renaissance Technologies, held 10.3 million shares of Vonage Holdings at the end of the quarter, the largest holding among the funds we follow. George McCabe, the manager of Portolan Capital Management, is also bullish, having increased his stake by 27% during the second quarter to amass 1.99 million shares.