StockNews.com Initiates Coverage on Orion Energy Systems (NASDAQ:OESX)

Equities research analysts at StockNews.com began coverage on shares of Orion Energy Systems (NASDAQ:OESX) in a research note issued on Wednesday. The brokerage set a “hold” rating on the electronics maker’s stock.

Separately, HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of Orion Energy Systems in a report on Thursday, August 8th.

Orion Energy Systems Stock Down 2.3 %

OESX opened at $0.82 on Wednesday. The stock’s fifty day simple moving average is $0.90 and its 200 day simple moving average is $0.97. Orion Energy Systems has a 1-year low of $0.81 and a 1-year high of $1.53. The stock has a market cap of $27.02 million, a PE ratio of -3.28 and a beta of 1.39. The company has a current ratio of 1.49, a quick ratio of 0.93 and a debt-to-equity ratio of 0.77.

Orion Energy Systems (NASDAQ:OESX) last released its quarterly earnings data on Wednesday, November 6th. The electronics maker reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The company had revenue of $19.36 million during the quarter, compared to analyst estimates of $19.40 million. Orion Energy Systems had a negative net margin of 8.76% and a negative return on equity of 48.81%. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. As a group, research analysts expect that Orion Energy Systems will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On Orion Energy Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its position in Orion Energy Systems by 9.0% during the third quarter. Geode Capital Management LLC now owns 312,127 shares of the electronics maker’s stock worth $268,000 after acquiring an additional 25,816 shares during the period. Grace & White Inc. NY grew its position in shares of Orion Energy Systems by 1.3% during the 3rd quarter. Grace & White Inc. NY now owns 2,695,406 shares of the electronics maker’s stock worth $2,310,000 after purchasing an additional 33,451 shares in the last quarter. Tieton Capital Management LLC increased its holdings in shares of Orion Energy Systems by 2.5% during the second quarter. Tieton Capital Management LLC now owns 2,186,931 shares of the electronics maker’s stock worth $2,427,000 after purchasing an additional 53,789 shares during the period. Finally, North Star Investment Management Corp. raised its position in shares of Orion Energy Systems by 1.2% in the third quarter. North Star Investment Management Corp. now owns 3,933,002 shares of the electronics maker’s stock valued at $3,370,000 after buying an additional 47,300 shares in the last quarter. Institutional investors and hedge funds own 52.59% of the company’s stock.

Orion Energy Systems Company Profile

Orion Energy Systems, Inc, together with its subsidiaries, researches, designs, develops, manufactures, markets, sells, installs, and implements energy management systems for commercial office and retail, area lighting, industrial applications, and government in North America and Germany. It operates in three segments: Lighting, Maintenance, and Electric Vehicle (EV).