Orion Energy Systems (NASDAQ:OESX) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Orion Energy Systems, Inc. (NASDAQ:OESX) shares crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $14.89 and traded as high as $27.45. Orion Energy Systems shares last traded at $25.83, with a volume of 38,498 shares trading hands.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Craig Hallum restated a “buy” rating and set a $43.00 target price on shares of Orion Energy Systems in a research note on Tuesday, September 15th. Wall Street Zen upgraded shares of Orion Energy Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Orion Energy Systems in a research report on Thursday, August 6th. Zacks Research downgraded Orion Energy Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Finally, Weiss Ratings upgraded Orion Energy Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

Orion Energy Systems Stock Down 3.7%

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 1.54. The firm has a market capitalization of $105.64 million, a price-to-earnings ratio of -516.60 and a beta of 0.87. The business has a 50 day simple moving average of $24.33 and a 200-day simple moving average of $14.89.

Orion Energy Systems (NASDAQ:OESX) last released its quarterly earnings data on Wednesday, August 5th. The electronics maker reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.40. Orion Energy Systems had a return on equity of 11.66% and a net margin of 0.04%. The firm had revenue of $25.74 million for the quarter, compared to analysts’ expectations of $23.56 million. On average, equities analysts expect that Orion Energy Systems, Inc. will post 0.23 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. grew 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 worth $1,137,000 after buying an additional 69,387 shares during the last quarter. North Star Investment Management Corp. increased its position in Orion Energy Systems by 29.0% in the 1st quarter. North Star Investment Management Corp. now owns 525,552 shares of the electronics maker’s stock valued at $4,593,000 after acquiring an additional 118,100 shares during the period. Tieton Capital Management LLC acquired a new position in Orion Energy Systems in the 2nd quarter valued at about $3,326,000. Renaissance Technologies LLC grew its stake 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 purchasing an additional 43,693 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Orion Energy Systems by 60.1% during 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 during the last quarter. 52.59% of the stock is owned by institutional investors and hedge funds.

About Orion Energy Systems

Orion Energy Systems, Inc (NASDAQ: OESX) develops and provides energy-efficient LED lighting systems and related solutions for commercial and industrial facilities. Its offerings are designed to help organizations improve illumination, reduce energy consumption and operating costs, and modernize facility infrastructure.

The company’s product portfolio includes LED high-bay and low-bay fixtures, retrofit systems, outdoor and specialty lighting, lighting controls, and connected facility-management solutions.