Orion Energy Systems (NASDAQ:OESX) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Orion Energy Systems, Inc. (NASDAQ:OESX) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.72 and traded as high as $12.10. Orion Energy Systems shares last traded at $10.52, with a volume of 76,572 shares.

Analysts Set New Price Targets

OESX has been the subject of several analyst reports. Wall Street Zen lowered Orion Energy Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Weiss Ratings lowered Orion Energy Systems from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Orion Energy Systems has a consensus rating of “Hold” and a consensus price target of $20.00.

Orion Energy Systems Stock Down 13.6%

The company has a market capitalization of $42.68 million, a price-to-earnings ratio of -11.43 and a beta of 0.75. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.03 and a current ratio of 1.41. The business’s 50 day moving average is $9.81 and its 200 day moving average is $11.72.

Orion Energy Systems (NASDAQ:OESX) last posted its quarterly earnings results on Thursday, June 4th. The electronics maker reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.53). Orion Energy Systems had a negative return on equity of 11.81% and a negative net margin of 3.66%.The company had revenue of $25.72 million during the quarter, compared to analysts’ expectations of $24.08 million. Sell-side analysts anticipate that Orion Energy Systems, Inc. will post 0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd purchased a new stake in Orion Energy Systems in the fourth quarter valued at approximately $202,000. NewEdge Advisors LLC purchased a new position in Orion Energy Systems during the 4th quarter worth approximately $232,000. Marshall Wace LLP acquired a new stake in Orion Energy Systems during the 4th quarter valued at approximately $706,000. Sei Investments Co. lifted its stake in Orion Energy Systems by 114.3% during the 1st quarter. Sei Investments Co. now owns 130,101 shares of the electronics maker’s stock valued at $1,137,000 after acquiring an additional 69,387 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Orion Energy Systems by 32.4% in the 1st 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 currently owned by hedge funds and other institutional investors.

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.