Grace & White Inc. NY Sells 2,589,514 Shares of Orion Energy Systems, Inc. $OESX

Grace & White Inc. NY reduced its position in Orion Energy Systems, Inc. (NASDAQ:OESX) by 89.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 294,571 shares of the electronics maker’s stock after selling 2,589,514 shares during the quarter. Grace & White Inc. NY owned approximately 8.85% of Orion Energy Systems worth $2,580,000 as of its most recent filing with the SEC.

Orion Energy Systems Trading Down 3.1%

Shares of OESX stock opened at $16.23 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.90 and a current ratio of 1.34. The company has a market capitalization of $57.29 million, a price-to-earnings ratio of -8.24 and a beta of 0.53. Orion Energy Systems, Inc. has a 52-week low of $5.50 and a 52-week high of $18.63. The company has a 50-day simple moving average of $14.97 and a two-hundred day simple moving average of $10.02.

Orion Energy Systems (NASDAQ:OESX) last announced its earnings results on Wednesday, November 5th. The electronics maker reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.55. The firm had revenue of $19.92 million for the quarter, compared to the consensus estimate of $20.30 million. Orion Energy Systems had a negative return on equity of 43.64% and a negative net margin of 7.81%. Research analysts anticipate that Orion Energy Systems, Inc. will post -0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OESX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Orion Energy Systems in a report on Tuesday, October 14th. HC Wainwright lifted their price target on shares of Orion Energy Systems to $20.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Finally, Wall Street Zen raised Orion Energy Systems to a “strong-buy” rating in a research note on Saturday, December 6th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Orion Energy Systems presently has an average rating of “Hold” and an average price target of $17.50.

Orion Energy Systems Company Profile

Orion Energy Systems, Inc is a U.S.-based provider of energy-efficient lighting and building controls solutions. Founded in 1996 and headquartered in Manitowoc, Wisconsin, the company specializes in designing, manufacturing and deploying LED lighting fixtures and integrated energy management systems for commercial and industrial customers.

The company’s product portfolio includes a range of LED light fixtures, smart sensors, networked controls and cloud-based energy management software.