Orion Energy Systems Inc. (NASDAQ:OESX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $2.00 target price on the stock. Zacks Investment Research’s target price suggests a potential upside of 11.11% from the company’s previous close.

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. “

Orion Energy Systems (NASDAQ:OESX) opened at 1.80 on Wednesday. The stock’s market cap is $50.85 million. The stock’s 50 day moving average is $1.41 and its 200 day moving average is $1.34. 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 posted its earnings results on Wednesday, November 2nd. The company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.06. Orion Energy Systems had a negative net margin of 24.11% and a negative return on equity of 19.01%. The company earned $18.67 million during the quarter, compared to analysts’ expectations of $18.60 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. Orion Energy Systems’s revenue for the quarter was up 18.7% compared to the same quarter last year. Analysts predict that Orion Energy Systems will post ($0.22) EPS for the current year.

A number of large investors have recently bought and sold shares of OESX. Prudential Financial Inc. raised its position in shares of Orion Energy Systems by 10.1% in the third quarter. Prudential Financial Inc. now owns 91,900 shares of the company’s stock worth $122,000 after buying an additional 8,400 shares during the last quarter. North Star Investment Management Corp. raised its position in shares of Orion Energy Systems by 0.4% in the third quarter. North Star Investment Management Corp. now owns 2,093,505 shares of the company’s stock worth $2,784,000 after buying an additional 8,837 shares during the last quarter. Adirondack Research & Management Inc. raised its position in shares of Orion Energy Systems by 1.3% in the third quarter. Adirondack Research & Management Inc. now owns 1,340,258 shares of the company’s stock worth $1,783,000 after buying an additional 17,105 shares during the last quarter. 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 worth $166,000 after buying an additional 25,000 shares during the last quarter. Finally, Thompson Davis & CO. Inc. bought a new position in shares of Orion Energy Systems during the second quarter worth about $189,000. 41.85% of the stock is 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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