Orion Energy Systems (NASDAQ:OESX) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• OESX shares crossed above their 200-day moving average of $14.89, reaching $27.45 before closing at $25.83.
• Analyst sentiment is moderately bullish: Orion has an average “Moderate Buy” rating and a consensus price target of $36.50, with targets ranging up to $43.00.
• The company exceeded quarterly expectations, reporting $0.47 in EPS versus a $0.07 estimate and revenue of $25.74 million versus $23.56 million expected; institutional investors own 52.59% of the stock.

Orion Energy Systems, Inc. (NASDAQ:OESX - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $14.89 and traded as high as $27.45. Orion Energy Systems shares last traded at $25.83, with a volume of 38,498 shares traded.

Analysts Set New Price Targets

OESX has been the subject of a number of recent analyst reports. Craig Hallum reaffirmed a "buy" rating and issued a $43.00 price objective on shares of Orion Energy Systems in a research report on Tuesday, September 15th. Zacks Research lowered Orion Energy Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 8th. Wall Street Zen upgraded Orion Energy Systems from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price target on shares of Orion Energy Systems in a report on Thursday, August 6th. Finally, Weiss Ratings raised shares of Orion Energy Systems from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Orion Energy Systems presently has an average rating of "Moderate Buy" and an average price target of $36.50.

Orion Energy Systems Stock Performance

The stock has a market capitalization of $105.64 million, a P/E ratio of -516.60 and a beta of 0.87. 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 company's fifty day simple moving average is $24.33 and its two-hundred day simple moving average is $14.89.

Orion Energy Systems (NASDAQ:OESX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.40. Orion Energy Systems had a return on equity of 11.66% and a net margin of 0.04%. The company had revenue of $25.74 million during the quarter, compared to analysts' expectations of $23.56 million. As a group, equities analysts forecast that Orion Energy Systems, Inc. will post 0.23 EPS for the current year.

Institutional Trading of Orion Energy Systems

Several institutional investors have recently added to or reduced their stakes in OESX. North Star Investment Management Corp. increased its position in Orion Energy Systems by 29.0% during the 1st quarter. North Star Investment Management Corp. now owns 525,552 shares of the electronics maker's stock worth $4,593,000 after buying an additional 118,100 shares during the period. Tieton Capital Management LLC bought a new stake in shares of Orion Energy Systems in the second quarter valued at about $3,326,000. Grace & White Inc. NY boosted its position in shares of Orion Energy Systems by 9.2% in the first quarter. Grace & White Inc. NY now owns 241,387 shares of the electronics maker's stock valued at $2,110,000 after acquiring an additional 20,400 shares during the period. 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. Finally, Sei Investments Co. grew its stake 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 in the last quarter. 52.59% of the stock is currently owned by institutional investors.

About Orion Energy Systems

Orion Energy Systems, Inc NASDAQ: OESX develops and provides energy-efficient LED lighting systems and related solutions for commercial and industrial facilities. Its offerings are designed to help organizations improve illumination, reduce energy consumption and operating costs, and modernize facility infrastructure.

The company's product portfolio includes LED high-bay and low-bay fixtures, retrofit systems, outdoor and specialty lighting, lighting controls, and connected facility-management solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.