Orion Energy Systems (NASDAQ:OESX) Raised to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Orion Energy Systems to “strong-buy” from “buy,” but broader analyst sentiment remains cautious: MarketBeat lists an average rating of “Reduce” and a $30 price target.
• Orion reported quarterly EPS of $0.47, exceeding the $0.07 consensus estimate, while revenue of $25.74 million also topped expectations of $23.56 million.
• Shares opened at $19.70, near the 12-month high of $19.93, with a market capitalization of approximately $80 million; institutional investors and hedge funds own 52.59% of the stock.

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

A number of other analysts have also recently issued reports on the company. Weiss Ratings upgraded Orion Energy Systems from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday. Zacks Research cut shares of Orion Energy Systems from a "hold" rating to a "strong sell" rating in a research report on Tuesday. Finally, HC Wainwright reiterated a "buy" rating and set a $30.00 price objective on shares of Orion Energy Systems in a research note on Thursday. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Reduce" and an average price target of $30.00.

Orion Energy Systems Price Performance

Shares of Orion Energy Systems stock opened at $19.70 on Friday. Orion Energy Systems has a twelve month low of $5.60 and a twelve month high of $19.93. The stock has a market capitalization of $79.98 million, a P/E ratio of -394.00 and a beta of 0.77. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The business's fifty day moving average price is $10.67 and its 200 day moving average price is $10.98.

Orion Energy Systems (NASDAQ:OESX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The electronics maker reported $0.47 EPS for the quarter, topping the consensus estimate of $0.07 by $0.40. The company had revenue of $25.74 million during the quarter, compared to analyst estimates 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, research analysts anticipate that Orion Energy Systems will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On Orion Energy Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tieton Capital Management LLC boosted its stake in Orion Energy Systems by 0.6% during the 4th quarter. Tieton Capital Management LLC now owns 256,194 shares of the electronics maker's stock valued at $3,940,000 after acquiring an additional 1,580 shares during the last quarter. NewEdge Advisors LLC increased its stake in Orion Energy Systems by 60.1% during the first quarter. NewEdge Advisors LLC now owns 24,140 shares of the electronics maker's stock valued at $211,000 after purchasing an additional 9,058 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Orion Energy Systems during the fourth quarter valued at $202,000. Grace & White Inc. NY raised its holdings in shares of Orion Energy Systems by 9.2% during the first quarter. Grace & White Inc. NY now owns 241,387 shares of the electronics maker's stock worth $2,110,000 after purchasing an additional 20,400 shares during the period. Finally, North Star Investment Management Corp. raised its holdings in shares of Orion Energy Systems by 6.3% during the fourth quarter. North Star Investment Management Corp. now owns 407,452 shares of the electronics maker's stock worth $6,267,000 after purchasing an additional 23,998 shares during the period. 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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