Orion Energy Systems Inc. (OESX) Stock Rating Lowered by Zacks Investment Research
Orion Energy Systems Inc. (NASDAQ:OESX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
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. “
OESX has been the subject of several other reports. HC Wainwright reiterated a “buy” rating on shares of Orion Energy Systems in a research report on Monday, July 18th. Rodman & Renshaw began coverage on Orion Energy Systems in a report on Monday, July 18th. They issued a “buy” rating and a $2.50 target price for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $2.75.
Orion Energy Systems (NASDAQ:OESX) opened at 1.4289 on Wednesday. The stock’s 50 day moving average price is $1.35 and its 200-day moving average price is $1.35. The company’s market capitalization is $40.17 million. Orion Energy Systems has a 52-week low of $1.04 and a 52-week high of $2.50.
Orion Energy Systems (NASDAQ:OESX) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.11) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.11). Orion Energy Systems had a negative return on equity of 22.77% and a negative net margin of 29.11%. The firm earned $15.60 million during the quarter, compared to analysts’ expectations of $16.98 million. During the same period in the previous year, the business earned ($0.13) earnings per share. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. Analysts predict that Orion Energy Systems will post ($0.30) earnings per share for the current fiscal year.
In other news, Director Tryg C. Jacobson bought 21,127 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were purchased at an average price of $1.42 per share, with a total value of $30,000.34. Following the purchase, the director now owns 85,454 shares in the company, valued at $121,344.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 10.50% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Connors Investor Services Inc. raised its stake in Orion Energy Systems by 21.2% in the second quarter. Connors Investor Services Inc. now owns 142,834 shares of the company’s stock worth $166,000 after buying an additional 25,000 shares in the last quarter. Thompson Davis & CO. Inc. bought a new stake in Orion Energy Systems during the second quarter worth about $189,000. Renaissance Technologies LLC raised its stake in Orion Energy Systems by 18.0% in the first quarter. Renaissance Technologies LLC now owns 412,400 shares of the company’s stock worth $573,000 after buying an additional 62,800 shares in the last quarter. Adirondack Research & Management Inc. raised its stake in Orion Energy Systems by 1.7% in the first quarter. Adirondack Research & Management Inc. now owns 1,323,153 shares of the company’s stock worth $1,839,000 after buying an additional 21,538 shares in the last quarter. Finally, North Star Investment Management Corp. raised its stake in Orion Energy Systems by 1.3% in the second quarter. North Star Investment Management Corp. now owns 2,084,668 shares of the company’s stock worth $2,418,000 after buying an additional 27,000 shares in the last quarter. 42.36% of the stock is currently owned by institutional investors.
About Orion Energy Systems
Orion Energy Systems, Inc is a designer and manufacturer of lighting platforms. The Company researches, develops, designs, manufactures, markets, sells and implements energy management systems consisting primarily of commercial and industrial interior and exterior lighting systems, and related services.
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