StockNews.com Begins Coverage on Orion Energy Systems (NASDAQ:OESX)

StockNews.com initiated coverage on shares of Orion Energy Systems (NASDAQ:OESX) in a research note published on Sunday morning. The firm issued a hold rating on the electronics maker’s stock.

Separately, HC Wainwright reaffirmed a buy rating and issued a $3.00 price objective on shares of Orion Energy Systems in a research note on Thursday, August 8th.

Orion Energy Systems Trading Down 1.5 %

Orion Energy Systems stock opened at $0.85 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.70 and a debt-to-equity ratio of 0.70. Orion Energy Systems has a 12 month low of $0.81 and a 12 month high of $1.53. The company’s fifty day simple moving average is $0.97 and its 200-day simple moving average is $0.97. The stock has a market cap of $27.73 million, a P/E ratio of -2.29 and a beta of 1.43.

Orion Energy Systems (NASDAQ:OESX) last issued its earnings results on Wednesday, August 7th. The electronics maker reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.01. The company had revenue of $19.91 million for the quarter, compared to analyst estimates of $19.16 million. Orion Energy Systems had a negative return on equity of 48.47% and a negative net margin of 9.47%. During the same period in the prior year, the firm posted ($0.18) EPS. As a group, sell-side analysts forecast that Orion Energy Systems will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Orion Energy Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE grew its stake in Orion Energy Systems by 111.5% in the 4th quarter. US Bancorp DE now owns 952,274 shares of the electronics maker’s stock valued at $825,000 after buying an additional 502,023 shares during the last quarter. Tieton Capital Management LLC increased its stake in shares of Orion Energy Systems by 2.5% in the second quarter. Tieton Capital Management LLC now owns 2,186,931 shares of the electronics maker’s stock worth $2,427,000 after purchasing an additional 53,789 shares during the period. Grace & White Inc. NY lifted its position in shares of Orion Energy Systems by 0.7% during the 1st quarter. Grace & White Inc. NY now owns 2,648,944 shares of the electronics maker’s stock worth $2,305,000 after purchasing an additional 18,115 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its stake in Orion Energy Systems by 1.4% during the 1st quarter. North Star Investment Management Corp. now owns 3,868,702 shares of the electronics maker’s stock valued at $3,367,000 after purchasing an additional 55,000 shares during the period. Institutional investors and hedge funds own 52.59% of the company’s stock.

About Orion Energy Systems

Orion Energy Systems, Inc researches, designs, develops, manufactures, markets, sells, installs, and implements energy management systems for commercial office and retail, exterior area lighting, and industrial applications in North America. The company operates through three segments: Orion Services Group, Orion Distribution Services, and Orion U.S.