Orion Energy Systems (NASDAQ:OESX) Stock Rating Upgraded by Zacks Research

Orion Energy Systems (NASDAQ:OESX) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Orion Energy Systems in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Orion Energy Systems from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen raised Orion Energy Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Orion Energy Systems has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Orion Energy Systems Stock Performance

Shares of NASDAQ OESX opened at $19.75 on Monday. The stock has a 50 day moving average price of $11.06 and a 200 day moving average price of $10.96. 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 stock has a market capitalization of $80.78 million, a PE ratio of -395.00 and a beta of 0.77.

Orion Energy Systems (NASDAQ:OESX) last posted its quarterly earnings results on Wednesday, August 5th. The electronics maker reported $0.47 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $23.56 million. Analysts predict that Orion Energy Systems will post 0.38 earnings per share for the current fiscal year.

Institutional Trading of Orion Energy Systems

A number of hedge funds have recently added to or reduced their stakes in the stock. Tieton Capital Management LLC bought a new position in shares of Orion Energy Systems in the 2nd quarter valued at $3,326,000. NewEdge Advisors LLC boosted its position in Orion Energy Systems by 60.1% during the 1st quarter. NewEdge Advisors LLC now owns 24,140 shares of the electronics maker’s stock worth $211,000 after buying an additional 9,058 shares during the period. Renaissance Technologies LLC grew its holdings in Orion Energy Systems by 32.4% during the 1st quarter. Renaissance Technologies LLC now owns 178,469 shares of the electronics maker’s stock worth $1,560,000 after acquiring an additional 43,693 shares during the last quarter. Sei Investments Co. grew its holdings 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 acquiring an additional 69,387 shares during the last quarter. Finally, 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. Institutional investors and hedge funds 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.