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

StockNews.com assumed coverage on shares of Orion Energy Systems (NASDAQ:OESX) in a report published on Monday. The firm issued a hold rating on the electronics maker’s stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $3.00 price target on shares of Orion Energy Systems in a research report on Thursday, August 8th.

Orion Energy Systems Trading Up 1.8 %

OESX opened at $0.89 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 0.93. Orion Energy Systems has a 12 month low of $0.81 and a 12 month high of $1.53. The stock has a market capitalization of $29.29 million, a price-to-earnings ratio of -3.56 and a beta of 1.39. The business has a fifty day moving average price of $0.90 and a 200 day moving average price of $0.97.

Orion Energy Systems (NASDAQ:OESX) last announced its quarterly earnings results on Wednesday, November 6th. The electronics maker reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Orion Energy Systems had a negative net margin of 8.76% and a negative return on equity of 48.81%. The business had revenue of $19.36 million during the quarter, compared to analyst estimates of $19.40 million. During the same period last year, the company earned ($0.14) earnings per share. Sell-side analysts expect that Orion Energy Systems will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Orion Energy Systems

Hedge funds have recently modified their holdings of the stock. Tieton Capital Management LLC lifted its stake in shares of Orion Energy Systems by 2.5% in the 2nd quarter. Tieton Capital Management LLC now owns 2,186,931 shares of the electronics maker’s stock worth $2,427,000 after acquiring an additional 53,789 shares during the period. Grace & White Inc. NY raised its holdings in Orion Energy Systems by 0.5% during the second quarter. Grace & White Inc. NY now owns 2,661,955 shares of the electronics maker’s stock worth $2,955,000 after purchasing an additional 13,011 shares in the last quarter. Finally, North Star Investment Management Corp. raised its holdings in Orion Energy Systems by 1.2% during the third quarter. North Star Investment Management Corp. now owns 3,933,002 shares of the electronics maker’s stock worth $3,370,000 after purchasing an additional 47,300 shares in the last quarter. 52.59% of the stock is owned by institutional investors and hedge funds.

About Orion Energy Systems

Orion Energy Systems, Inc, together with its subsidiaries, researches, designs, develops, manufactures, markets, sells, installs, and implements energy management systems for commercial office and retail, area lighting, industrial applications, and government in North America and Germany. It operates in three segments: Lighting, Maintenance, and Electric Vehicle (EV).