Zacks Investment Research upgraded shares of Orion Energy Systems (NASDAQ:OESX) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “ORION ENERGY SYSTEMS, INC. is a leading power technology enterprise that designs, manufactures and implements energy management systems, consisting primarily of high-performance, energy efficient lighting systems, controls and related services, for commercial and industrial customers without compromising their quantity or quality of light. “
Other equities analysts have also issued reports about the stock. HC Wainwright set a $2.00 target price on shares of Orion Energy Systems and gave the stock a buy rating in a research report on Wednesday, August 8th. Roth Capital set a $1.00 target price on shares of Orion Energy Systems and gave the stock a hold rating in a research report on Tuesday, August 7th.
Shares of NASDAQ:OESX traded down $0.04 during trading on Wednesday, reaching $1.06. 164,957 shares of the company were exchanged, compared to its average volume of 73,799. The firm has a market cap of $28.25 million, a PE ratio of -2.79 and a beta of 0.69. Orion Energy Systems has a 12-month low of $0.70 and a 12-month high of $1.25. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.08 and a current ratio of 1.64.
Orion Energy Systems (NASDAQ:OESX) last issued its earnings results on Tuesday, August 7th. The electronics maker reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.02). The company had revenue of $13.82 million for the quarter, compared to analysts’ expectations of $14.80 million. Orion Energy Systems had a negative return on equity of 35.90% and a negative net margin of 15.03%. Equities research analysts predict that Orion Energy Systems will post -0.26 EPS for the current fiscal year.
A hedge fund recently raised its stake in Orion Energy Systems stock. Renaissance Technologies LLC boosted its holdings in shares of Orion Energy Systems, Inc. (NASDAQ:OESX) by 6.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,071,400 shares of the electronics maker’s stock after buying an additional 67,200 shares during the quarter. Renaissance Technologies LLC owned approximately 3.64% of Orion Energy Systems worth $1,179,000 as of its most recent SEC filing. 40.64% of the stock is currently owned by institutional investors and hedge funds.
About Orion Energy Systems
Orion Energy Systems, Inc researches, designs, develops, manufactures, implements, markets, and sells energy management systems for the commercial office and retail, area lighting, and industrial markets in North America. The company operates in three segments: Orion U.S. Markets Division, Orion Engineered Systems Division, and Orion Distribution Services Division.
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