John H. Scribante Sells 40,000 Shares of Orion Energy Systems, Inc. (NASDAQ:OESX) Stock
Orion Energy Systems, Inc. (NASDAQ:OESX) insider John H. Scribante sold 40,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $0.99, for a total value of $39,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Orion Energy Systems, Inc. (OESX) traded down 3.980% on Wednesday, hitting $0.965. The stock had a trading volume of 31,741 shares. The firm’s market capitalization is $27.50 million. Orion Energy Systems, Inc. has a 1-year low of $0.95 and a 1-year high of $2.57. The company’s 50 day moving average is $1.21 and its 200-day moving average is $1.62.
Orion Energy Systems (NASDAQ:OESX) last issued its quarterly earnings data on Friday, August 4th. The electronics maker reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.13) by $0.04. Orion Energy Systems had a negative return on equity of 37.61% and a negative net margin of 23.70%. The business had revenue of $12.56 million during the quarter, compared to the consensus estimate of $15.94 million. On average, analysts forecast that Orion Energy Systems, Inc. will post ($0.36) EPS for the current year.
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A number of research analysts have commented on OESX shares. Craig Hallum lowered Orion Energy Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Roth Capital set a $1.00 price objective on Orion Energy Systems and gave the company a “hold” rating in a research report on Wednesday, May 24th. ValuEngine lowered Orion Energy Systems from a “hold” rating to a “sell” rating in a research report on Thursday, May 25th. Zacks Investment Research upgraded Orion Energy Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, April 11th. Finally, HC Wainwright reiterated a “buy” rating on shares of Orion Energy Systems in a research report on Sunday, May 28th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Orion Energy Systems presently has a consensus rating of “Hold” and an average price target of $2.08.
Several hedge funds have recently modified their holdings of the company. North Star Investment Management Corp. boosted its stake in shares of Orion Energy Systems by 17.9% in the first quarter. North Star Investment Management Corp. now owns 2,645,964 shares of the electronics maker’s stock valued at $5,239,000 after buying an additional 400,959 shares in the last quarter. Renaissance Technologies LLC raised its position in Orion Energy Systems by 16.7% in the fourth quarter. Renaissance Technologies LLC now owns 753,500 shares of the electronics maker’s stock valued at $1,635,000 after buying an additional 107,800 shares during the last quarter. IFC Holdings Incorporated FL purchased a new position in Orion Energy Systems during the second quarter valued at about $128,000. Dimensional Fund Advisors LP raised its position in Orion Energy Systems by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 478,694 shares of the electronics maker’s stock valued at $948,000 after buying an additional 20,146 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in Orion Energy Systems by 11.1% in the second quarter. Prudential Financial Inc. now owns 103,000 shares of the electronics maker’s stock valued at $132,000 after buying an additional 10,300 shares during the last quarter. 42.06% of the stock is currently owned by institutional investors.
About Orion Energy Systems
Orion Energy Systems, Inc is a designer and manufacturer of lighting platforms. The Company researches, develops, designs, manufactures, markets, sells and implements energy management systems consisting primarily of commercial and industrial interior and exterior lighting systems, and related services.
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