Orion Energy Systems (NASDAQ:OESX) Downgraded to Buy Rating by Wall Street Zen

Orion Energy Systems (NASDAQ:OESX) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

A number of other analysts have also commented on OESX. Weiss Ratings lowered shares of Orion Energy Systems from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 14th. Zacks Research lowered shares of Orion Energy Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $17.50.

Orion Energy Systems Price Performance

OESX stock opened at $9.52 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.95 and a debt-to-equity ratio of 0.76. Orion Energy Systems has a one year low of $5.50 and a one year high of $18.64. The firm has a market capitalization of $38.56 million, a PE ratio of -10.35 and a beta of 0.79. The firm has a 50-day moving average of $9.42 and a two-hundred day moving average of $12.65.

Orion Energy Systems (NASDAQ:OESX) last posted its quarterly earnings data on Thursday, June 4th. The electronics maker reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.53). Orion Energy Systems had a negative net margin of 3.66% and a negative return on equity of 13.18%. The firm had revenue of $25.72 million for the quarter, compared to analysts’ expectations of $24.08 million. On average, analysts forecast that Orion Energy Systems will post 0.33 earnings per share for the current year.

Institutional Trading of Orion Energy Systems

A number of hedge funds have recently made changes to their positions in OESX. Quadrature Capital Ltd purchased a new stake in shares of Orion Energy Systems in the fourth quarter worth approximately $202,000. NewEdge Advisors LLC lifted its position in shares of Orion Energy Systems by 60.1% in the first quarter. NewEdge Advisors LLC now owns 24,140 shares of the electronics maker’s stock worth $211,000 after purchasing an additional 9,058 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Orion Energy Systems in the fourth quarter worth approximately $706,000. Sei Investments Co. lifted its position in shares of Orion Energy Systems by 114.3% in the first quarter. Sei Investments Co. now owns 130,101 shares of the electronics maker’s stock worth $1,137,000 after purchasing an additional 69,387 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Orion Energy Systems by 32.4% in the first quarter. Renaissance Technologies LLC now owns 178,469 shares of the electronics maker’s stock worth $1,560,000 after purchasing an additional 43,693 shares in the last quarter. 52.59% of the stock is owned by hedge funds and other institutional investors.

About Orion Energy Systems

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.