StockNews.com Initiates Coverage on Orion Energy Systems (NASDAQ:OESX)

StockNews.com began coverage on shares of Orion Energy Systems (NASDAQ:OESX) in a research note issued to investors on Friday. The brokerage issued a hold rating on the electronics maker’s stock.

Separately, HC Wainwright restated a buy rating and set a $7.00 price target on shares of Orion Energy Systems in a research report on Thursday, August 10th.

Orion Energy Systems Price Performance

OESX opened at $0.92 on Friday. The firm has a market cap of $29.91 million, a price-to-earnings ratio of -0.73 and a beta of 2.02. The company’s 50-day moving average price is $1.14 and its 200 day moving average price is $1.43. Orion Energy Systems has a fifty-two week low of $0.90 and a fifty-two week high of $2.45. The company has a quick ratio of 0.86, a current ratio of 1.56 and a debt-to-equity ratio of 0.44.

Institutional Trading of Orion Energy Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. North Star Investment Management Corp. grew its stake in shares of Orion Energy Systems by 3.3% in the 2nd quarter. North Star Investment Management Corp. now owns 2,741,692 shares of the electronics maker’s stock worth $4,469,000 after purchasing an additional 86,800 shares during the last quarter. Tieton Capital Management LLC grew its position in Orion Energy Systems by 0.9% in the second quarter. Tieton Capital Management LLC now owns 2,219,240 shares of the electronics maker’s stock worth $3,617,000 after buying an additional 20,349 shares during the last quarter. Kanen Wealth Management LLC increased its holdings in shares of Orion Energy Systems by 16.5% in the second quarter. Kanen Wealth Management LLC now owns 2,163,420 shares of the electronics maker’s stock valued at $3,526,000 after buying an additional 306,222 shares in the last quarter. Grace & White Inc. NY lifted its position in shares of Orion Energy Systems by 22.7% during the 3rd quarter. Grace & White Inc. NY now owns 1,035,857 shares of the electronics maker’s stock valued at $1,305,000 after acquiring an additional 191,954 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Orion Energy Systems by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 259,474 shares of the electronics maker’s stock worth $472,000 after acquiring an additional 5,688 shares in the last quarter. 56.69% of the stock is currently owned by institutional investors.

Orion Energy Systems Company Profile

Orion Energy Systems, Inc researches, designs, develops, manufactures, markets, sells, installs, and implements energy management systems for commercial office and retail, exterior area lighting, and industrial applications in North America. The company operates through three segments: Orion Services Group, Orion Distribution Services, and Orion U.S.