Published On: Fri, Sep 16th, 2016

Orion Energy Systems Inc. (OESX) Upgraded by Zacks Investment Research to “Hold”

Orion Energy Systems Inc. (NASDAQ:OESX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “ORION ENERGY SYSTEMS, INC. is a leading power technology enterprise that designs, manufactures and implements energy management systems, consisting primarily of high-performance, energy efficient lighting systems, controls and related services, for commercial and industrial customers without compromising their quantity or quality of light. “
Several other research analysts have also issued reports on OESX. Rodman & Renshaw started coverage on shares of Orion Energy Systems in a research note on Monday, July 18th. They issued a “buy” rating and a $2.50 target price on the stock. HC Wainwright reaffirmed a “buy” rating on shares of Orion Energy Systems in a research note on Monday, July 18th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $2.75.

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Orion Energy Systems (NASDAQ:OESX) traded up 2.27% during mid-day trading on Thursday, reaching $1.35. 12,188 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $1.36 and a 200-day moving average price of $1.35. Orion Energy Systems has a 1-year low of $1.04 and a 1-year high of $2.50. The stock’s market cap is $37.95 million.
Orion Energy Systems (NASDAQ:OESX) last issued its earnings results on Tuesday, August 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $15.60 million for the quarter, compared to analyst estimates of $16.98 million. Orion Energy Systems had a negative net margin of 29.11% and a negative return on equity of 22.77%. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.13) EPS. Equities research analysts anticipate that Orion Energy Systems will post ($0.30) EPS for the current fiscal year.
In other news, Director Tryg C. Jacobson acquired 21,127 shares of Orion Energy Systems stock in a transaction that occurred on Friday, August 5th. The shares were acquired at an average price of $1.42 per share, with a total value of $30,000.34. Following the purchase, the director now directly owns 85,454 shares of the company’s stock, valued at $121,344.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 10.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. North Star Investment Management Corp. raised its position in Orion Energy Systems by 1.3% in the second quarter. North Star Investment Management Corp. now owns 2,084,668 shares of the company’s stock valued at $2,418,000 after buying an additional 27,000 shares during the last quarter. Adirondack Research & Management Inc. increased its stake in shares of Orion Energy Systems by 1.7% in the first quarter. Adirondack Research & Management Inc. now owns 1,323,153 shares of the company’s stock valued at $1,839,000 after buying an additional 21,538 shares during the period. Renaissance Technologies LLC increased its stake in shares of Orion Energy Systems by 18.0% in the first quarter. Renaissance Technologies LLC now owns 412,400 shares of the company’s stock valued at $573,000 after buying an additional 62,800 shares during the period. Thompson Davis & CO. Inc. bought a new stake in shares of Orion Energy Systems during the second quarter valued at approximately $189,000. Finally, Connors Investor Services Inc. increased its stake in shares of Orion Energy Systems by 21.2% in the second quarter. Connors Investor Services Inc. now owns 142,834 shares of the company’s stock valued at $166,000 after buying an additional 25,000 shares during the period. 42.36% of the stock is currently owned by institutional investors and hedge funds.
About Orion Energy Systems
Orion Energy Systems, Inc is a designer and manufacturer of lighting platforms. The Company researches, develops, designs, manufactures, markets, sells and implements energy management systems consisting primarily of commercial and industrial interior and exterior lighting systems, and related services.

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