Orion Energy Systems (NASDAQ:OESX) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of Orion Energy Systems (NASDAQ:OESX) from a strong-buy rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other equities analysts also recently issued reports on OESX. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Orion Energy Systems in a report on Thursday, August 6th. Craig Hallum reaffirmed a “buy” rating and set a $43.00 price objective on shares of Orion Energy Systems in a research note on Tuesday, September 15th. Weiss Ratings raised shares of Orion Energy Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Finally, Zacks Research lowered shares of Orion Energy Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $36.50.

Orion Energy Systems Stock Up 5.8%

OESX opened at $13.24 on Friday. The firm’s 50-day simple moving average is $24.49 and its 200-day simple moving average is $15.03. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 1.54. Orion Energy Systems has a twelve month low of $8.58 and a twelve month high of $31.65. The firm has a market cap of $54.15 million, a price-to-earnings ratio of -165.48 and a beta of 0.93.

Institutional Trading of Orion Energy Systems

Several large investors have recently made changes to their positions in OESX. AIGH Capital Management LLC acquired a new stake in shares of Orion Energy Systems in the third quarter valued at $12,414,000. Tieton Capital Management LLC acquired a new position in Orion Energy Systems during the 2nd quarter worth about $3,326,000. Sei Investments Co. lifted its position 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 buying an additional 69,387 shares in the last quarter. Renaissance Technologies LLC lifted its position 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 buying an additional 43,693 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings 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 acquiring an additional 9,058 shares during the last quarter. Institutional investors own 52.59% of the company’s stock.

About Orion Energy Systems

Orion Energy Systems, Inc (NASDAQ: OESX) is an energy-efficiency technology company that designs, manufactures and delivers lighting and energy-management solutions for commercial and industrial facilities. Its offerings are intended to help organizations improve illumination, reduce energy consumption and modernize building operations.

The company’s products and services include LED lighting fixtures and retrofit systems, intelligent lighting controls, and related energy-management technologies.