Orion Energy Systems, Inc. (NASDAQ:OESX) Upgraded by Zacks Investment Research to “Hold”

Orion Energy Systems, Inc. (NASDAQ:OESX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “ORION ENERGY SYSTEMS, INC. is a leading power technology enterprise that designs, manufactures and implements energy management systems, consisting primarily of high-performance, energy efficient lighting systems, controls and related services, for commercial and industrial customers without compromising their quantity or quality of light. “

Several other research firms have also commented on OESX. HC Wainwright set a $3.00 price objective on shares of Orion Energy Systems and gave the stock a “buy” rating in a research report on Monday. ValuEngine lowered shares of Orion Energy Systems from a “hold” rating to a “sell” rating in a research report on Thursday, May 25th. Craig Hallum lowered shares of Orion Energy Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Finally, Roth Capital set a $1.00 price objective on shares of Orion Energy Systems and gave the stock a “hold” rating in a research report on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $2.08.

Orion Energy Systems (NASDAQ:OESX) opened at 0.965 on Thursday. The stock’s market capitalization is $27.50 million. Orion Energy Systems has a 1-year low of $0.95 and a 1-year high of $2.57. The stock has a 50 day moving average of $1.18 and a 200 day moving average of $1.60.

Orion Energy Systems (NASDAQ:OESX) last released its quarterly earnings data on Friday, August 4th. The electronics maker reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.13) by $0.04. Orion Energy Systems had a negative return on equity of 37.61% and a negative net margin of 23.70%. The business had revenue of $12.56 million during the quarter, compared to analysts’ expectations of $15.94 million. On average, analysts expect that Orion Energy Systems will post ($0.36) earnings per share for the current year.

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In other Orion Energy Systems news, insider John H. Scribante sold 80,802 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $1.32, for a total value of $106,658.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John H. Scribante sold 40,000 shares of the company’s 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 disclosure for this sale can be found here. Over the last 90 days, insiders acquired 23,000 shares of company stock worth $31,140 and sold 548,996 shares worth $655,129. 9.20% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFC Holdings Incorporated FL purchased a new position in Orion Energy Systems during the second quarter worth about $128,000. Prudential Financial Inc. raised its position in Orion Energy Systems by 11.1% in the second quarter. Prudential Financial Inc. now owns 103,000 shares of the electronics maker’s stock worth $132,000 after buying an additional 10,300 shares during the period. Dimensional Fund Advisors LP raised its position in Orion Energy Systems by 4.4% in the first 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. Renaissance Technologies LLC raised its position in Orion Energy Systems by 7.2% in the first 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, North Star Investment Management Corp. raised its position in Orion Energy Systems by 7.0% in the second 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. Institutional investors own 42.06% of the company’s stock.

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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