Yesterday the share price of Energy Focus, Inc. (OTC:EFOI) delivered the fourth consecutive trading session with an increase in the share price. There is no news or other events to support the high trading activity, it only follows certain share purchases by members the company’s management. 
EFOI closed the last trading session with a 19.70% gain from last week close at $0.48 for a share. The trading volume grew further up and exceeded 494,600 traded shares for the day. There are currently no resistance levels for the share price for the last six months and the RSI is in the overbought area. Technically, there seems to be no more upside potential for EFOI at this point.
The company’s latest SEC filing are related to some share transactions of certain managers of the company. Last Tuesday, EFOI CEO, COO and President filed to have acquired different amounts of common shares and warrants, partially at prices above the current market level. That looks like a probable reason for the stock appreciation that followed.
Energy Focus is not in a stable financial position according to its latest 10-Q report, closing the quarter ended Sept. 31, 2011 with a working capital deficit and only $1.89 million cash. Latest news sounds promising, however, and could put EFOI on a new uptrend.
Last week, the company announced to have completed the first $1.9 million part of its $23 million lightning supply contract with the US Navy fleet. A week before that, EFOI also said it won additional contacts totaling $2.5 million.
