Orion Energy Systems (OESX) Rating Increased to Buy at ValuEngine

Orion Energy Systems (NASDAQ:OESX) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Monday, ValuEngine reports.

A number of other analysts have also commented on the company. HC Wainwright reiterated a “buy” rating and issued a $1.75 price objective on shares of Orion Energy Systems in a research report on Wednesday, April 3rd. Roth Capital upgraded Orion Energy Systems from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 3rd. Zacks Investment Research upgraded Orion Energy Systems from a “hold” rating to a “buy” rating and set a $1.00 price objective for the company in a research report on Saturday, February 9th. Finally, Craig Hallum upgraded Orion Energy Systems from a “hold” rating to a “buy” rating in a research report on Thursday, April 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Orion Energy Systems currently has a consensus rating of “Buy” and an average target price of $1.87.

Shares of OESX stock opened at $2.12 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.51 and a quick ratio of 0.98. The stock has a market capitalization of $44.07 million, a P/E ratio of -5.58 and a beta of 1.93. Orion Energy Systems has a 12 month low of $0.53 and a 12 month high of $2.14.

Hedge funds have recently made changes to their positions in the stock. Penbrook Management LLC acquired a new position in shares of Orion Energy Systems during the 4th quarter worth about $381,000. Vanguard Group Inc grew its position in shares of Orion Energy Systems by 10.1% during the 3rd quarter. Vanguard Group Inc now owns 651,580 shares of the electronics maker’s stock worth $626,000 after buying an additional 60,000 shares during the period. Renaissance Technologies LLC grew its position in shares of Orion Energy Systems by 2.4% during the 1st quarter. Renaissance Technologies LLC now owns 1,196,335 shares of the electronics maker’s stock worth $1,059,000 after buying an additional 27,900 shares during the period. Finally, North Star Investment Management Corp. grew its position in shares of Orion Energy Systems by 15.5% during the 1st quarter. North Star Investment Management Corp. now owns 3,534,300 shares of the electronics maker’s stock worth $3,130,000 after buying an additional 474,552 shares during the period. Hedge funds and other institutional investors own 37.57% of the company’s stock.

Orion Energy Systems Company Profile

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.

Further Reading: Convertible Shares

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