Orion Energy Systems Inc. (NASDAQ:OESX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “ORION ENERGY SYSTEMS, INC. is a leading power technology enterprise that designs, manufactures and implements energy management systems, consisting primarily of high-performance, energy efficient lighting systems, controls and related services, for commercial and industrial customers without compromising their quantity or quality of light. “
A number of other research analysts also recently issued reports on OESX. HC Wainwright reaffirmed a “buy” rating on shares of Orion Energy Systems in a report on Monday, July 18th. Rodman & Renshaw initiated coverage on Orion Energy Systems in a report on Monday, July 18th. They issued a “buy” rating and a $2.50 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Orion Energy Systems presently has an average rating of “Hold” and a consensus price target of $2.75.
Orion Energy Systems (NASDAQ:OESX) opened at 1.36 on Wednesday. The stock’s 50 day moving average price is $1.34 and its 200 day moving average price is $1.35. The stock’s market cap is $38.23 million. Orion Energy Systems has a one year low of $1.04 and a one year high of $2.50.
Orion Energy Systems (NASDAQ:OESX) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). The firm had revenue of $15.60 million for the quarter, compared to the consensus estimate of $16.98 million. Orion Energy Systems had a negative return on equity of 22.77% and a negative net margin of 29.11%. The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.13) earnings per share. Equities analysts predict that Orion Energy Systems will post ($0.30) earnings per share for the current fiscal year.
In other news, Director Tryg C. Jacobson bought 21,127 shares of the stock in a transaction on Friday, August 5th. The shares were bought at an average price of $1.42 per share, with a total value of $30,000.34. Following the completion of the acquisition, the director now owns 85,454 shares in the company, valued at $121,344.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. North Star Investment Management Corp. increased its position in Orion Energy Systems by 1.3% in the second quarter. North Star Investment Management Corp. now owns 2,084,668 shares of the company’s stock worth $2,418,000 after buying an additional 27,000 shares in the last quarter. Adirondack Research & Management Inc. increased its position in Orion Energy Systems by 1.7% in the first quarter. Adirondack Research & Management Inc. now owns 1,323,153 shares of the company’s stock worth $1,839,000 after buying an additional 21,538 shares in the last quarter. Renaissance Technologies LLC increased its position in Orion Energy Systems by 18.0% in the first quarter. Renaissance Technologies LLC now owns 412,400 shares of the company’s stock worth $573,000 after buying an additional 62,800 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new position in Orion Energy Systems during the second quarter worth $189,000. Finally, Connors Investor Services Inc. increased its position in Orion Energy Systems by 21.2% in the second quarter. Connors Investor Services Inc. now owns 142,834 shares of the company’s stock worth $166,000 after buying an additional 25,000 shares in the last quarter. 42.36% of the stock is currently owned by institutional investors.
Orion Energy Systems Company Profile
Orion Energy Systems, Inc is a designer and manufacturer of lighting platforms. The Company researches, develops, designs, manufactures, markets, sells and implements energy management systems consisting primarily of commercial and industrial interior and exterior lighting systems, and related services.
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