Orion Energy Systems (NASDAQ:OESX) Stock Rating Upgraded by Zacks Research

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

Several other analysts have also recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Orion Energy Systems in a research report on Tuesday, October 14th. HC Wainwright increased their target price on Orion Energy Systems to $20.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Finally, Wall Street Zen raised Orion Energy Systems to a “strong-buy” rating in a research note on Saturday, December 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.50.

Orion Energy Systems Stock Up 4.7%

Shares of NASDAQ OESX opened at $17.00 on Thursday. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.81. The business has a 50-day moving average of $15.12 and a 200-day moving average of $10.10. The firm has a market capitalization of $60.01 million, a price-to-earnings ratio of -8.63 and a beta of 0.53. Orion Energy Systems has a 12 month low of $5.50 and a 12 month high of $18.63.

Orion Energy Systems (NASDAQ:OESX) last announced its earnings results on Wednesday, November 5th. The electronics maker reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.55. Orion Energy Systems had a negative net margin of 7.81% and a negative return on equity of 43.64%. The business had revenue of $19.92 million for the quarter, compared to the consensus estimate of $20.30 million. Sell-side analysts expect that Orion Energy Systems will post -0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orion Energy Systems

A hedge fund recently raised its stake in Orion Energy Systems stock. Grace & White Inc. NY raised its holdings in shares of Orion Energy Systems, Inc. (NASDAQ:OESX) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,884,085 shares of the electronics maker’s stock after buying an additional 99,499 shares during the period. Grace & White Inc. NY owned about 8.66% of Orion Energy Systems worth $1,731,000 at the end of the most recent reporting period. 52.59% of the stock is owned by hedge funds and other institutional investors.

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.