Orion Energy Systems (NASDAQ:OESX) Stock Passes Above 200 Day Moving Average - Here's Why

Key Points

• Orion Energy Systems shares surged 7.9%, trading near $25.00 and moving above their 200-day average of $11.84. The stock remains below the analyst consensus price target of $30.00.
• Analyst sentiment improved, with Wall Street Zen and Zacks Research upgrading the stock to “strong buy,” while HC Wainwright maintained a “buy” rating; MarketBeat’s overall consensus is “Moderate Buy.”
• The company exceeded quarterly expectations, reporting $0.47 in EPS versus the $0.07 estimate and revenue of $25.74 million versus the $23.56 million consensus. Institutional investors and hedge funds own 52.59% of the shares.

Orion Energy Systems, Inc. (NASDAQ:OESX - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.84 and traded as high as $25.12. Orion Energy Systems shares last traded at $25.00, with a volume of 65,977 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Orion Energy Systems from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Wednesday, August 19th. Wall Street Zen raised shares of Orion Energy Systems from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Zacks Research upgraded shares of Orion Energy Systems from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, August 10th. Finally, HC Wainwright restated a "buy" rating and set a $30.00 price target on shares of Orion Energy Systems in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $30.00.

Orion Energy Systems Trading Up 7.9%

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 moving average price is $15.50 and its 200-day moving average price is $11.84. The company has a market cap of $102.25 million, a price-to-earnings ratio of -500.00 and a beta of 0.96.

Orion Energy Systems (NASDAQ:OESX - Get Free Report) last posted its 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. Orion Energy Systems had a net margin of 0.04% and a return on equity of 11.66%. The business had revenue of $25.74 million for the quarter, compared to analysts' expectations of $23.56 million. On average, research analysts forecast that Orion Energy Systems, Inc. will post 0.23 EPS for the current year.

Hedge Funds Weigh In On Orion Energy Systems

A number of hedge funds have recently modified their holdings of OESX. Tieton Capital Management LLC bought a new stake in shares of Orion Energy Systems in the 2nd quarter worth about $3,326,000. North Star Investment Management Corp. boosted its position in Orion Energy Systems by 29.0% in the first quarter. North Star Investment Management Corp. now owns 525,552 shares of the electronics maker's stock valued at $4,593,000 after buying an additional 118,100 shares in the last quarter. Sei Investments Co. boosted its position in 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 buying an additional 69,387 shares in the last quarter. Marshall Wace LLP bought a new stake in Orion Energy Systems during the fourth quarter worth about $706,000. Finally, Renaissance Technologies LLC raised 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 during the last quarter. 52.59% of the stock is owned by institutional investors and hedge funds.

Orion Energy Systems Company Profile

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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