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

Key Points

• Zacks Research downgraded Orion Energy Systems from “strong buy” to “hold.” Analyst coverage is mixed, with one buy, one hold, and one sell rating; the consensus price target is $30.00.
• Orion reported quarterly earnings of $0.47 per share, substantially above the $0.07 consensus estimate, while revenue of $25.74 million also exceeded expectations of $23.56 million.
• The stock opened at $27.60 and has traded between $7.84 and $31.00 over the past year. Institutional investors and hedge funds own 52.59% of the company, with several firms recently increasing their positions.

Orion Energy Systems (NASDAQ:OESX - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday, Zacks reports.

Several other equities research analysts also recently commented on the company. Weiss Ratings raised Orion Energy Systems from a "sell (d-)" rating to a "sell (d+)" rating in a report on Wednesday, August 19th. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price target on shares of Orion Energy Systems in a research report on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Orion Energy Systems from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Orion Energy Systems has an average rating of "Hold" and an average price target of $30.00.

Orion Energy Systems Stock Performance

OESX opened at $27.60 on Tuesday. Orion Energy Systems has a 52-week low of $7.84 and a 52-week high of $31.00. The firm has a market capitalization of $112.86 million, a PE ratio of -552.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 1.54. The business's 50-day simple moving average is $16.45 and its 200 day simple moving average is $12.15.

Orion Energy Systems (NASDAQ:OESX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The electronics maker reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.40. The firm had revenue of $25.74 million during the quarter, compared to the consensus estimate of $23.56 million. Orion Energy Systems had a return on equity of 11.66% and a net margin of 0.04%. As a group, sell-side analysts expect that Orion Energy Systems will post 0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new position in Orion Energy Systems during the 4th quarter worth $202,000. NewEdge Advisors LLC bought a new stake in shares of Orion Energy Systems in the fourth quarter valued at about $232,000. Marshall Wace LLP bought a new stake in shares of Orion Energy Systems in the fourth quarter valued at about $706,000. Sei Investments Co. boosted its position in shares of Orion Energy Systems by 114.3% in the first quarter. Sei Investments Co. now owns 130,101 shares of the electronics maker's stock valued at $1,137,000 after acquiring an additional 69,387 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Orion Energy Systems by 32.4% in the first quarter. Renaissance Technologies LLC now owns 178,469 shares of the electronics maker's stock valued at $1,560,000 after acquiring an additional 43,693 shares in the last quarter. 52.59% of the stock is owned by institutional investors and hedge funds.

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.

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