Orion Energy Systems (NASDAQ:OESX) Downgraded by Wall Street Zen to Buy

Wall Street Zen downgraded shares of Orion Energy Systems (NASDAQ:OESX) from a strong-buy rating to a buy rating in a research note published on Saturday,Wall Street Zen reports.

Several other research analysts also recently commented on the company. Craig Hallum restated a “buy” rating and issued a $43.00 target price on shares of Orion Energy Systems in a research note on Tuesday, September 15th. Zacks Research cut Orion Energy Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Weiss Ratings raised shares of Orion Energy Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Orion Energy Systems in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.50.

Orion Energy Systems Trading Down 7.7%

NASDAQ:OESX opened at $12.51 on Friday. The company has a market cap of $51.17 million, a P/E ratio of -156.36 and a beta of 0.93. The stock’s fifty day moving average price is $24.76 and its two-hundred day moving average price is $15.05. Orion Energy Systems has a 1 year low of $8.58 and a 1 year high of $31.65. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.54 and a quick ratio of 1.13.

Orion Energy Systems (NASDAQ:OESX) last posted its quarterly earnings results on Wednesday, August 5th. The electronics maker reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.40. Orion Energy Systems had a positive return on equity of 10.66% and a negative net margin of 0.20%. The firm had revenue of $25.74 million during the quarter, compared to analyst estimates of $23.56 million. As a group, analysts expect that Orion Energy Systems will post 0.23 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. AIGH Capital Management LLC bought a new stake in Orion Energy Systems during the 3rd quarter valued at approximately $12,414,000. Tieton Capital Management LLC purchased a new position in shares of Orion Energy Systems during the 2nd quarter worth approximately $3,326,000. Sei Investments Co. grew its holdings in shares of Orion Energy Systems by 114.3% during the 1st quarter. Sei Investments Co. now owns 130,101 shares of the electronics maker’s stock worth $1,137,000 after acquiring an additional 69,387 shares during the period. Renaissance Technologies LLC raised its position 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 worth $1,560,000 after acquiring an additional 43,693 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Orion Energy Systems by 60.1% in the first 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. Institutional investors own 52.59% of the company’s stock.

Orion Energy Systems Company Profile

Orion Energy Systems, Inc (NASDAQ: OESX) is an energy-efficiency technology company that designs, manufactures and delivers lighting and energy-management solutions for commercial and industrial facilities. Its offerings are intended to help organizations improve illumination, reduce energy consumption and modernize building operations.

The company’s products and services include LED lighting fixtures and retrofit systems, intelligent lighting controls, and related energy-management technologies.