HC Wainwright Reiterates “Buy” Rating for Orion Energy Systems, Inc. (OESX)
Orion Energy Systems, Inc. (NASDAQ:OESX)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a report issued on Friday.
OESX has been the topic of several other research reports. Zacks Investment Research raised shares of Orion Energy Systems from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. ValuEngine downgraded shares of Orion Energy Systems from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Orion Energy Systems has a consensus rating of “Hold” and an average price target of $2.00.
Orion Energy Systems (NASDAQ:OESX) traded up $0.05 on Friday, reaching $0.91. The company had a trading volume of 80,100 shares, compared to its average volume of 125,879. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.30 and a current ratio of 2.08. Orion Energy Systems has a 12-month low of $0.80 and a 12-month high of $2.57.
Orion Energy Systems (NASDAQ:OESX) last posted its quarterly 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). The firm had revenue of $12.56 million for the quarter, compared to analysts’ expectations of $15.94 million. Orion Energy Systems had a negative return on equity of 45.13% and a negative net margin of 29.13%. analysts anticipate that Orion Energy Systems will post -0.47 EPS for the current year.
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In related news, insider John H. Scribante sold 40,000 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in OESX. North Star Investment Management Corp. raised its holdings in Orion Energy Systems by 7.0% during the 2nd quarter. North Star Investment Management Corp. now owns 2,830,964 shares of the electronics maker’s stock worth $3,624,000 after buying an additional 185,000 shares during the period. IFC Holdings Incorporated FL acquired a new stake in Orion Energy Systems during the 2nd quarter worth approximately $128,000. New York State Common Retirement Fund raised its holdings in Orion Energy Systems by 11.3% during the 2nd quarter. New York State Common Retirement Fund now owns 570,230 shares of the electronics maker’s stock worth $730,000 after buying an additional 57,799 shares during the period. Renaissance Technologies LLC raised its holdings in Orion Energy Systems by 7.2% during the 1st quarter. Renaissance Technologies LLC now owns 807,500 shares of the electronics maker’s stock worth $1,599,000 after buying an additional 54,000 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Orion Energy Systems by 4.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 478,694 shares of the electronics maker’s stock worth $948,000 after buying an additional 20,146 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.
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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