Zacks Investment Research upgraded shares of Orion Energy Systems (NASDAQ:OESX) from a sell rating to a hold rating in a report published 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 recently issued research reports about the stock. HC Wainwright set a $2.00 price objective on shares of Orion Energy Systems and gave the stock a buy rating in a research report on Wednesday, November 14th. Roth Capital cut their price objective on shares of Orion Energy Systems from $1.00 to $0.85 and set a neutral rating on the stock in a research report on Wednesday, November 14th.
Shares of Orion Energy Systems stock opened at $0.95 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.51 and a debt-to-equity ratio of 0.08. Orion Energy Systems has a 1-year low of $0.53 and a 1-year high of $1.25.
Orion Energy Systems (NASDAQ:OESX) last issued its quarterly earnings results on Tuesday, November 13th. The electronics maker reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.01). Orion Energy Systems had a negative return on equity of 36.26% and a negative net margin of 13.52%. The business had revenue of $13.20 million for the quarter, compared to analyst estimates of $15.44 million. Research analysts expect that Orion Energy Systems will post -0.29 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in OESX. Vanguard Group Inc lifted its position in Orion Energy Systems by 10.1% in the 3rd quarter. Vanguard Group Inc now owns 651,580 shares of the electronics maker’s stock valued at $626,000 after acquiring an additional 60,000 shares in the last quarter. Renaissance Technologies LLC lifted its position in Orion Energy Systems by 6.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,071,400 shares of the electronics maker’s stock valued at $1,179,000 after acquiring an additional 67,200 shares in the last quarter. Finally, North Star Investment Management Corp. lifted its position in Orion Energy Systems by 3.0% in the 3rd quarter. North Star Investment Management Corp. now owns 3,100,813 shares of the electronics maker’s stock valued at $2,977,000 after acquiring an additional 91,000 shares in the last quarter. 40.71% of the stock is currently owned by institutional investors.
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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