Orion Energy Systems (NASDAQ:OESX) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Orion Energy Systems (NASDAQ:OESX) from a strong sell rating to a strong-buy rating in a research note released on Monday,Zacks.com reports.

A number of other brokerages have also commented on OESX. Wall Street Zen upgraded Orion Energy Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Orion Energy Systems in a research note on Thursday, August 6th. Finally, Weiss Ratings raised Orion Energy Systems from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Orion Energy Systems Trading Up 3.1%

Shares of OESX stock opened at $19.75 on Monday. Orion Energy Systems has a 52-week low of $5.60 and a 52-week high of $20.74. 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 company has a 50-day simple moving average of $11.06 and a two-hundred day simple moving average of $10.96. The company has a market capitalization of $80.78 million, a price-to-earnings ratio of -395.00 and a beta of 0.77.

Orion Energy Systems (NASDAQ:OESX) last posted its earnings results on Wednesday, August 5th. The electronics maker reported $0.47 EPS for the quarter, topping the consensus estimate of $0.07 by $0.40. Orion Energy Systems had a net margin of 0.04% and a return on equity of 11.66%. The firm had revenue of $25.74 million for the quarter, compared to analysts’ expectations of $23.56 million. Research analysts anticipate that Orion Energy Systems will post 0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Orion Energy Systems

Large investors have recently modified their holdings of the stock. North Star Investment Management Corp. raised its holdings in shares of 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 worth $4,593,000 after purchasing an additional 118,100 shares during the period. Tieton Capital Management LLC bought a new position in Orion Energy Systems during the second quarter valued at $3,326,000. NewEdge Advisors LLC grew its holdings in Orion Energy Systems by 60.1% during the first quarter. NewEdge Advisors LLC now owns 24,140 shares of the electronics maker’s stock valued at $211,000 after purchasing an additional 9,058 shares during the period. Quadrature Capital Ltd purchased a new stake in Orion Energy Systems in the fourth quarter worth $202,000. Finally, Marshall Wace LLP purchased a new stake in Orion Energy Systems in the fourth quarter worth $706,000. Hedge funds and other institutional investors own 52.59% of the company’s stock.

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.