Orion Energy Systems (NASDAQ:OESX) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Orion Energy Systems (NASDAQ:OESX) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks reports.

A number of other equities analysts also recently commented on OESX. Weiss Ratings raised shares of Orion Energy Systems from a “sell (d-)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Wall Street Zen upgraded shares of Orion Energy Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Orion Energy Systems in a report on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.00.

Orion Energy Systems Stock Performance

Shares of OESX opened at $27.60 on Tuesday. The firm has a market cap of $112.86 million, a price-to-earnings ratio of -552.00 and a beta of 0.96. The company has a quick ratio of 1.13, a current ratio of 1.54 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $16.45 and its two-hundred day moving average is $12.15. Orion Energy Systems has a 52-week low of $7.84 and a 52-week high of $31.00.

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 return on equity of 11.66% and a net margin of 0.04%.The business had revenue of $25.74 million during the quarter, compared to the consensus estimate of $23.56 million. Analysts forecast that Orion Energy Systems will post 0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Orion Energy Systems

Several institutional investors have recently modified their holdings of OESX. Sei Investments Co. boosted its stake in Orion Energy Systems by 114.3% during the 1st quarter. Sei Investments Co. now owns 130,101 shares of the electronics maker’s stock valued at $1,137,000 after purchasing an additional 69,387 shares during the period. North Star Investment Management Corp. increased its stake in shares of 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 valued at $4,593,000 after purchasing an additional 118,100 shares during the period. Tieton Capital Management LLC bought a new stake in shares of Orion Energy Systems during the second quarter valued at approximately $3,326,000. Renaissance Technologies LLC raised its holdings in shares of Orion Energy Systems by 32.4% during the first 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 during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Orion Energy Systems by 60.1% during the first quarter. NewEdge Advisors LLC now owns 24,140 shares of the electronics maker’s stock worth $211,000 after buying an additional 9,058 shares during the period. Institutional investors 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.