$17.53 Million in Sales Expected for Orion Energy Systems, Inc. (OESX) This Quarter
Equities research analysts predict that Orion Energy Systems, Inc. (NASDAQ:OESX) will post sales of $17.53 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Orion Energy Systems’ earnings, with the highest sales estimate coming in at $18.50 million and the lowest estimate coming in at $16.50 million. Orion Energy Systems posted sales of $18.67 million during the same quarter last year, which would indicate a negative year over year growth rate of 6.1%. The firm is expected to report its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that Orion Energy Systems will report full year sales of $17.53 million for the current fiscal year, with estimates ranging from $67.10 million to $77.30 million. For the next year, analysts forecast that the firm will post sales of $91.19 million per share, with estimates ranging from $87.00 million to $95.38 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Orion Energy Systems.
Orion Energy Systems (NASDAQ:OESX) last released its earnings results on Friday, August 4th. The electronics maker reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.04). Orion Energy Systems had a negative net margin of 23.70% and a negative return on equity of 37.61%. The firm had revenue of $12.56 million during the quarter, compared to analyst estimates of $15.94 million.
A number of equities research analysts recently weighed in on the stock. ValuEngine cut shares of Orion Energy Systems from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. HC Wainwright set a $3.00 price target on shares of Orion Energy Systems and gave the company a “buy” rating in a research report on Monday, August 7th. Finally, Zacks Investment Research raised shares of Orion Energy Systems from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $2.00.
Orion Energy Systems (NASDAQ OESX) opened at 1.03 on Thursday. Orion Energy Systems has a 52-week low of $0.85 and a 52-week high of $2.57. The firm’s market capitalization is $29.63 million. The company has a 50 day moving average price of $1.07 and a 200 day moving average price of $1.29.
In other news, insider John H. Scribante sold 37,100 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $1.07, for a total value of $39,697.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John H. Scribante sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $0.99, for a total transaction of $39,600.00. The disclosure for this sale can be found here. Insiders sold 192,736 shares of company stock valued at $204,459 over the last ninety days. Corporate insiders own 9.20% of the company’s stock.
Large investors have recently made changes to their positions in the company. IFC Holdings Incorporated FL purchased a new stake in shares of Orion Energy Systems in the second quarter valued at about $128,000. Renaissance Technologies LLC raised its holdings in shares of Orion Energy Systems by 7.2% in the first quarter. Renaissance Technologies LLC now owns 807,500 shares of the electronics maker’s stock valued at $1,599,000 after buying an additional 54,000 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Orion Energy Systems by 0.9% in the first quarter. Prudential Financial Inc. now owns 92,700 shares of the electronics maker’s stock valued at $184,000 after buying an additional 800 shares during the last quarter. North Star Investment Management Corp. raised its holdings in shares of Orion Energy Systems by 7.0% in the second quarter. North Star Investment Management Corp. now owns 2,830,964 shares of the electronics maker’s stock valued at $3,624,000 after buying an additional 185,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of 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. 44.73% of the stock is owned by institutional investors and hedge funds.
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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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