Orion Energy Systems (NASDAQ:OESX) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Orion Energy Systems, Inc. (NASDAQ:OESX) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.72 and traded as high as $12.10. Orion Energy Systems shares last traded at $10.52, with a volume of 76,572 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded Orion Energy Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Weiss Ratings downgraded Orion Energy Systems from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.00.

Orion Energy Systems Price Performance

The stock’s fifty day moving average is $9.81 and its 200-day moving average is $11.72. The stock has a market capitalization of $42.68 million, a PE ratio of -11.43 and a beta of 0.75. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.41 and a quick ratio of 1.03.

Orion Energy Systems (NASDAQ:OESX) last released its quarterly earnings data on Thursday, June 4th. The electronics maker reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.53). The firm had revenue of $25.72 million during the quarter, compared to analysts’ expectations of $24.08 million. Orion Energy Systems had a negative net margin of 3.66% and a negative return on equity of 11.81%. As a group, equities analysts predict that Orion Energy Systems, Inc. will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orion Energy Systems

Hedge funds have recently bought and sold shares of the business. Tieton Capital Management LLC grew its holdings in Orion Energy Systems by 0.6% in the fourth quarter. Tieton Capital Management LLC now owns 256,194 shares of the electronics maker’s stock valued at $3,940,000 after purchasing an additional 1,580 shares during the period. NewEdge Advisors LLC increased its position in shares of Orion Energy Systems by 60.1% in the first quarter. NewEdge Advisors LLC now owns 24,140 shares of the electronics maker’s stock valued at $211,000 after buying an additional 9,058 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Orion Energy Systems during the 4th quarter worth approximately $202,000. Grace & White Inc. NY raised its stake in shares of Orion Energy Systems by 9.2% during the 1st 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 period. Finally, North Star Investment Management Corp. lifted its position in shares of Orion Energy Systems by 6.3% during the 4th quarter. North Star Investment Management Corp. now owns 407,452 shares of the electronics maker’s stock valued at $6,267,000 after buying an additional 23,998 shares in the last quarter. Hedge funds and other institutional investors own 52.59% of the company’s stock.

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.