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

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

Several other research analysts also recently commented on OESX. Weiss Ratings raised shares of Orion Energy Systems from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded Orion Energy Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Orion Energy Systems in a research note on Thursday, August 6th. One 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. According to MarketBeat, Orion Energy Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Orion Energy Systems Stock Up 3.1%

OESX opened at $19.75 on Monday. Orion Energy Systems has a twelve month low of $5.60 and a twelve month high of $20.74. The company’s 50-day moving average price is $11.06 and its two-hundred day moving average price is $10.96. The stock has a market cap of $80.78 million, a price-to-earnings ratio of -395.00 and a beta of 0.77. The company has a quick ratio of 1.13, a current ratio of 1.54 and a debt-to-equity ratio of 0.33.

Orion Energy Systems (NASDAQ:OESX) last released its earnings results on Wednesday, August 5th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping 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 business had revenue of $25.74 million during the quarter, compared to the consensus estimate of $23.56 million. As a group, equities analysts expect that Orion Energy Systems will post 0.38 earnings per share for the current year.

Institutional Trading of Orion Energy Systems

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quadrature Capital Ltd purchased a new position in Orion Energy Systems in the fourth quarter worth $202,000. NewEdge Advisors LLC increased its stake in Orion Energy Systems by 60.1% in the first quarter. NewEdge Advisors LLC now owns 24,140 shares of the electronics maker’s stock valued at $211,000 after acquiring an additional 9,058 shares during the last quarter. Marshall Wace LLP purchased a new stake in Orion Energy Systems during the fourth quarter valued at about $706,000. Sei Investments Co. raised its position in Orion Energy Systems by 114.3% during the first quarter. Sei Investments Co. now owns 130,101 shares of the electronics maker’s stock valued at $1,137,000 after purchasing an additional 69,387 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Orion Energy Systems by 32.4% during the first quarter. Renaissance Technologies LLC now owns 178,469 shares of the electronics maker’s stock worth $1,560,000 after purchasing an additional 43,693 shares during the last quarter. 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.