Energy Focus shares surge 13.12% intraday after CEO buys $600k in stock, signaling confidence in company's prospects.

Energy Focus (NASDAQ:EFOI) surged 13.12% intraday after its CEO, Huang Chiao Chieh, purchased 262,009 shares for $600,000 at $2.29 per share, slightly above InvestingPro’s fair value estimate. The transaction, disclosed via an SEC Form 4 filing, increased the CEO’s direct ownership to 1,421,219 shares. Analysts cited in the report anticipate the company to turn profitable this year with an estimated EPS of $0.27, while Energy Focus maintains a strong balance sheet with more cash than debt and a 2.5 current ratio. The insider buying signaled confidence in the firm’s prospects, aligning with the stock’s sharp intraday rise.