Orion Energy Systems (NASDAQ:OESX) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Orion Energy Systems, Inc. (NASDAQ:OESX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.73 and traded as high as $18.64. Orion Energy Systems shares last traded at $17.53, with a volume of 82,022 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on OESX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orion Energy Systems in a research note on Friday, January 9th. Zacks Research upgraded shares of Orion Energy Systems from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Finally, Wall Street Zen raised shares of Orion Energy Systems to a “strong-buy” rating in a report on Saturday, December 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.50.

Orion Energy Systems Stock Performance

The company has a market cap of $61.88 million, a PE ratio of -8.90 and a beta of 0.53. The firm’s fifty day moving average is $16.10 and its 200 day moving average is $10.73. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.81.

Orion Energy Systems (NASDAQ:OESX) last posted its quarterly earnings data on Wednesday, November 5th. The electronics maker reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.55. Orion Energy Systems had a negative net margin of 7.81% and a negative return on equity of 43.64%. The business had revenue of $19.92 million for the quarter, compared to the consensus estimate of $20.30 million. As a group, research analysts predict that Orion Energy Systems, Inc. will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Orion Energy Systems

A hedge fund recently raised its stake in Orion Energy Systems stock. Grace & White Inc. NY grew its position in Orion Energy Systems, Inc. (NASDAQ:OESX) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,884,085 shares of the electronics maker’s stock after acquiring an additional 99,499 shares during the quarter. Grace & White Inc. NY owned about 8.66% of Orion Energy Systems worth $1,731,000 as of its most recent SEC filing. Institutional investors own 52.59% of the company’s stock.

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.