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      Energy Focus Inc. (EFOI) stock Declines Premarket under Market Corrections - Stocks Telegraph

      By Gule Rukhsar

      Published on

      December 9, 2021

      10:40 AM UTC

      Energy Focus Inc. (EFOI) stock Declines Premarket under Market Corrections - Stocks Telegraph

      Energy Focus Inc. (EFOI) was down by 4.81% at $3.16 in the premarket at the last check on December 09. The stock seems to be shedding yesterday’s gain of 70.26% under market corrections this morning.

      In yesterday’s session, EFOI stock was up by 70.26%, closing at $3.32 with an active volume of 194.52 million shares. Following the big jump, the stock fell down to $3.20 in the premarket session, due to profit booking.

      The 5.09 million outstanding shares of Energy Focus Inc. (EFOI) currently trade at a market capitalization of $9.92 million.

      What is Happening with EFOI?

      On December 08, the company announced the launch of its nUVoTM Virus-Targeted UVC Air Disinfectors to the public. Following the emergence of the news, the stock rallied to reach a high of $4.42 in regular trading. The stock was able to reach such a high after almost four months, at a hefty volume of 6,349% of the average. Gaining so much resulted in the stock entering market corrections. Hence, EFOI stock started falling premarket due to profit booking from it humungous gain.

      Moreover, yesterday’s jump has put the stock’s five-day gain at 53.70%. While EFOI stock has gone up by 16.08% last month, it has lost 17.62% year to date.

      nUVoTM Disinfectors

      As per Wednesday’s announcement, the company’s virus-targeted disinfectors can now be ordered through EFOI’s distributors or

      According to EFOI, the nUVoTM disinfectors are able to demolish over 99.9% of airborne microbes. In addition to molds, bacteria, and other viruses, it can kill SARS-CoV-2 and its variants as well. As studies suggest that the SARS-CoV-2 primarily transmits through the air, EFOI’s disinfectors ensure the safety of its users by destroying such viruses, etc.

      The TRAVELER disinfector is a personal portable solution with a 4-hour rechargeable battery, for spaces up to 100 square ft. And the TOWER disinfector is designed for larger spaces (500 square feet), which is also a portable solution.

      EFOI’s Financial Highlights

      On November 12, EFOI announced its financial results for its third quarter of 2021. As per the third quarter, the net sales were down by 53.9% to $2.7 million.

      Moreover, the net loss for the quarter was $1.1 million against $1.2 million in the year-ago quarter. Consequently, the net loss per share was $0.22 in Q3 2021, against $0.35 in Q3 of 2020.

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