Zacks Research Upgrades Orion Energy Systems (NASDAQ:OESX) to “Strong-Buy”

Orion Energy Systems (NASDAQ:OESX) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. Wall Street Zen upgraded Orion Energy Systems to a “strong-buy” rating in a research note on Saturday, December 6th. HC Wainwright boosted their target price on shares of Orion Energy Systems to $20.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Orion Energy Systems in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Orion Energy Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

Orion Energy Systems Stock Performance

Shares of OESX stock opened at $17.00 on Thursday. The firm has a market cap of $60.01 million, a price-to-earnings ratio of -8.63 and a beta of 0.53. The company’s 50 day moving average is $15.12 and its 200 day moving average is $10.10. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.81. Orion Energy Systems has a 52-week low of $5.50 and a 52-week high of $18.63.

Orion Energy Systems (NASDAQ:OESX) last posted 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 company had revenue of $19.92 million during the quarter, compared to analyst estimates of $20.30 million. Orion Energy Systems had a negative return on equity of 43.64% and a negative net margin of 7.81%. On average, sell-side analysts anticipate that Orion Energy Systems will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Orion Energy Systems

A hedge fund recently raised its stake in Orion Energy Systems stock. Grace & White Inc. NY grew its stake in shares of Orion Energy Systems, Inc. (NASDAQ:OESX) by 3.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,884,085 shares of the electronics maker’s stock after acquiring an additional 99,499 shares during the quarter. Grace & White Inc. NY owned about 8.66% of Orion Energy Systems worth $1,731,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.