Orion Energy Systems (NASDAQ:OESX) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Orion Energy Systems (NASDAQ:OESX) in a report issued on Sunday. The brokerage 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 Price Performance

OESX stock opened at $0.97 on Friday. The company has a market capitalization of $31.76 million, a PE ratio of -3.46 and a beta of 1.39. The company has a quick ratio of 1.06, a current ratio of 1.70 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average is $0.88 and its two-hundred day moving average is $0.96. Orion Energy Systems has a 52-week low of $0.81 and a 52-week high of $1.53.

Orion Energy Systems (NASDAQ:OESX) last issued its quarterly earnings results on Wednesday, August 7th. The electronics maker reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. Orion Energy Systems had a negative net margin of 9.47% and a negative return on equity of 48.47%. The business had revenue of $19.91 million during the quarter, compared to analyst estimates of $19.16 million. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. Analysts predict that Orion Energy Systems will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orion Energy Systems

Large investors have recently added to or reduced their stakes in the company. Tieton Capital Management LLC raised its holdings in shares of Orion Energy Systems by 2.5% during the second quarter. Tieton Capital Management LLC now owns 2,186,931 shares of the electronics maker’s stock worth $2,427,000 after purchasing an additional 53,789 shares during the period. Grace & White Inc. NY grew its position in shares of Orion Energy Systems by 1.3% during the 3rd quarter. Grace & White Inc. NY now owns 2,695,406 shares of the electronics maker’s stock valued at $2,310,000 after buying an additional 33,451 shares during the last quarter. Finally, North Star Investment Management Corp. raised its stake 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 acquiring an additional 47,300 shares during the period. 52.59% of the stock is currently owned by institutional investors.

Orion Energy Systems Company Profile

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).