Orion Energy Systems (NASDAQ:OESX) Rating Lowered to Buy at Wall Street Zen

Key Points

• Wall Street Zen downgraded Orion Energy Systems from “strong buy” to “buy.” Despite mixed analyst actions, the consensus rating remains “Moderate Buy,” with an average price target of $36.50.
• Orion reported quarterly EPS of $0.47, beating the $0.07 consensus estimate, while revenue of $25.74 million also topped expectations of $23.56 million.
• Institutional investors hold 52.59% of the stock, with several firms recently initiating or increasing positions.

Orion Energy Systems (NASDAQ:OESX - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings upgraded shares of Orion Energy Systems from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, October 8th. Zacks Research cut shares of Orion Energy Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 8th. HC Wainwright restated a "buy" rating and issued a $30.00 price target on shares of Orion Energy Systems in a research report on Thursday, August 6th. Finally, Craig Hallum restated a "buy" rating and issued a $43.00 price objective on shares of Orion Energy Systems in a report on Tuesday, September 15th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $36.50.

Orion Energy Systems Price Performance

Shares of OESX opened at $12.51 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 1.54. Orion Energy Systems has a fifty-two week low of $8.58 and a fifty-two week high of $31.65. The stock has a market capitalization of $51.17 million, a PE ratio of 52.43 and a beta of 0.93. The company has a 50 day moving average price of $24.76 and a 200-day moving average price of $15.05.

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

Institutional Investors Weigh In On Orion Energy Systems

Several institutional investors have recently bought and sold shares of OESX. AIGH Capital Management LLC acquired a new position in Orion Energy Systems in the 3rd quarter valued at approximately $12,414,000. Tieton Capital Management LLC bought a new position in shares of Orion Energy Systems in the second quarter worth about $3,326,000. Renaissance Technologies LLC raised its position in 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 acquiring an additional 43,693 shares in the last quarter. Sei Investments Co. boosted its position in shares of 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 acquiring an additional 69,387 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Orion Energy Systems by 60.1% during the 1st quarter. NewEdge Advisors LLC now owns 24,140 shares of the electronics maker's stock worth $211,000 after purchasing an additional 9,058 shares in the last quarter. 52.59% of the stock is currently owned by hedge funds and other institutional investors.

Orion Energy Systems Company Profile

Orion Energy Systems, Inc NASDAQ: OESX is an energy-efficiency technology company that designs, manufactures and delivers lighting and energy-management solutions for commercial and industrial facilities. Its offerings are intended to help organizations improve illumination, reduce energy consumption and modernize building operations.

The company's products and services include LED lighting fixtures and retrofit systems, intelligent lighting controls, and related energy-management technologies.

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