Orion Energy Systems Inc. (OESX) Lowered to “Sell” at Zacks Investment Research
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. “
A number of other equities research analysts have also issued reports on OESX. Rodman & Renshaw initiated coverage on Orion Energy Systems in a research report on Monday, July 18th. They issued a buy rating and a $2.50 price target for the company. HC Wainwright restated a buy rating on shares of Orion Energy Systems in a research report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Orion Energy Systems presently has a consensus rating of Hold and a consensus target price of $2.75.
Shares of Orion Energy Systems (NASDAQ:OESX) traded down 2.03% during midday trading on Wednesday, reaching $1.45. The company’s stock had a trading volume of 114,717 shares. The stock’s 50-day moving average is $1.34 and its 200-day moving average is $1.35. Orion Energy Systems has a one year low of $1.04 and a one year high of $2.50. The company’s market capitalization is $40.76 million.
Orion Energy Systems (NASDAQ:OESX) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). The business earned $15.60 million during the quarter, compared to analyst estimates of $16.98 million. Orion Energy Systems had a negative return on equity of 22.77% and a negative net margin of 29.11%. The business’s revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.13) earnings per share. On average, equities analysts expect that Orion Energy Systems will post ($0.30) earnings per share for the current fiscal year.
In other Orion Energy Systems news, Director Tryg C. Jacobson acquired 21,127 shares of the stock in a transaction that occurred on Friday, August 5th. The stock was bought at an average cost of $1.42 per share, for a total transaction of $30,000.34. Following the completion of the transaction, the director now owns 85,454 shares of the company’s stock, valued at approximately $121,344.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.50% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Connors Investor Services Inc. raised its position in shares of Orion Energy Systems by 21.2% in the second quarter. Connors Investor Services Inc. now owns 142,834 shares of the company’s stock valued at $166,000 after buying an additional 25,000 shares during the last quarter. Thompson Davis & CO. Inc. purchased a new position in Orion Energy Systems during the second quarter valued at approximately $189,000. North Star Investment Management Corp. raised its position 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 valued at $2,418,000 after buying an additional 27,000 shares in the last quarter. Renaissance Technologies LLC raised its position in Orion Energy Systems by 18.0% in the first quarter. Renaissance Technologies LLC now owns 412,400 shares of the company’s stock valued at $573,000 after buying an additional 62,800 shares in the last quarter. Finally, Adirondack Research & Management Inc. raised its position 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 valued at $1,839,000 after buying an additional 21,538 shares in the last quarter. Institutional investors own 42.36% of the company’s stock.
Orion Energy Systems Company Profile
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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