Zacks Research Downgrades Orion Energy Systems (NASDAQ:OESX) to Strong Sell

Orion Energy Systems (NASDAQ:OESX) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

OESX has been the subject of several other reports. Weiss Ratings cut shares of Orion Energy Systems from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 14th. Wall Street Zen lowered shares of Orion Energy Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $20.00.

Orion Energy Systems Trading Up 54.4%

Shares of NASDAQ OESX opened at $16.06 on Tuesday. Orion Energy Systems has a one year low of $5.60 and a one year high of $18.64. The firm has a market capitalization of $65.20 million, a PE ratio of -17.46 and a beta of 0.77. The company has a current ratio of 1.41, a quick ratio of 1.03 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $10.31 and a two-hundred day moving average price of $10.91.

Orion Energy Systems (NASDAQ:OESX) last released its earnings results on Wednesday, August 5th. The electronics maker reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.40. The company had revenue of $25.74 million for the quarter, compared to analysts’ expectations of $23.56 million. Orion Energy Systems had a negative return on equity of 11.81% and a negative net margin of 3.66%. As a group, analysts predict that Orion Energy Systems will post 0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC raised its stake in shares of Orion Energy Systems by 60.1% during the 1st quarter. NewEdge Advisors LLC now owns 24,140 shares of the electronics maker’s stock worth $211,000 after purchasing an additional 9,058 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Orion Energy Systems by 32.4% in the 1st quarter. Renaissance Technologies LLC now owns 178,469 shares of the electronics maker’s stock valued at $1,560,000 after buying an additional 43,693 shares in the last quarter. Sei Investments Co. grew its stake in shares of Orion Energy Systems by 114.3% in the 1st quarter. Sei Investments Co. now owns 130,101 shares of the electronics maker’s stock valued at $1,137,000 after buying an additional 69,387 shares in the last quarter. North Star Investment Management Corp. increased its holdings in Orion Energy Systems by 29.0% in the first quarter. North Star Investment Management Corp. now owns 525,552 shares of the electronics maker’s stock worth $4,593,000 after buying an additional 118,100 shares during the last quarter. Finally, Grace & White Inc. NY increased its holdings in Orion Energy Systems by 9.2% in the first quarter. Grace & White Inc. NY now owns 241,387 shares of the electronics maker’s stock worth $2,110,000 after buying an additional 20,400 shares during the last quarter. 52.59% of the stock is owned by institutional investors and hedge funds.

Orion Energy Systems Company Profile

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.