Orion Energy Systems (NASDAQ:OESX) Lowered to Hold Rating by Zacks Research

Orion Energy Systems (NASDAQ:OESX) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

Several other research firms have also issued reports on OESX. Wall Street Zen raised Orion Energy Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Weiss Ratings raised shares of Orion Energy Systems from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Orion Energy Systems in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Orion Energy Systems currently has a consensus rating of “Hold” and a consensus price target of $30.00.

Orion Energy Systems Trading Down 9.6%

Shares of OESX stock opened at $27.60 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 1.13 and a debt-to-equity ratio of 0.33. The stock has a market cap of $112.86 million, a P/E ratio of -552.00 and a beta of 0.96. The stock has a 50 day simple moving average of $16.45 and a 200 day simple moving average of $12.15. Orion Energy Systems has a 1 year low of $7.84 and a 1 year high of $31.00.

Orion Energy Systems (NASDAQ:OESX) last posted its quarterly earnings data on Wednesday, August 5th. The electronics maker reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.40. Orion Energy Systems had a return on equity of 11.66% and a net margin of 0.04%.The firm had revenue of $25.74 million for the quarter, compared to analyst estimates of $23.56 million. On average, research analysts predict that Orion Energy Systems will post 0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orion Energy Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tieton Capital Management LLC acquired a new stake in shares of Orion Energy Systems during the 2nd quarter valued at $3,326,000. North Star Investment Management Corp. increased its holdings in Orion Energy Systems by 29.0% in the 1st quarter. North Star Investment Management Corp. now owns 525,552 shares of the electronics maker’s stock worth $4,593,000 after purchasing an additional 118,100 shares in the last quarter. Sei Investments Co. increased its holdings in Orion Energy Systems by 114.3% in the 1st quarter. Sei Investments Co. now owns 130,101 shares of the electronics maker’s stock worth $1,137,000 after purchasing an additional 69,387 shares in the last quarter. Marshall Wace LLP acquired a new position in Orion Energy Systems in the 4th quarter worth about $706,000. Finally, Renaissance Technologies LLC raised its position in Orion Energy Systems by 32.4% in the first quarter. Renaissance Technologies LLC now owns 178,469 shares of the electronics maker’s stock valued at $1,560,000 after purchasing an additional 43,693 shares during the last quarter. Institutional investors own 52.59% of the company’s stock.

About Orion Energy Systems

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.