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

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

Separately, HC Wainwright restated 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 opened at $1.01 on Friday. The stock has a 50-day moving average price of $0.89 and a 200-day moving average price of $0.96. Orion Energy Systems has a 12-month low of $0.81 and a 12-month high of $1.53. The company has a current ratio of 1.70, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $33.07 million, a P/E ratio of -3.61 and a beta of 1.39.

Orion Energy Systems (NASDAQ:OESX) last posted its quarterly earnings data 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 return on equity of 48.47% and a negative net margin of 9.47%. The firm had revenue of $19.91 million during the quarter, compared to analysts’ expectations of $19.16 million. During the same period in the prior year, the business earned ($0.18) EPS. Equities analysts predict that Orion Energy Systems will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Orion Energy Systems

Institutional investors and hedge funds have recently bought and sold shares of the business. Tieton Capital Management LLC lifted its holdings in 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 buying an additional 53,789 shares during the period. Grace & White Inc. NY lifted its holdings in Orion Energy Systems by 0.5% in the 2nd quarter. Grace & White Inc. NY now owns 2,661,955 shares of the electronics maker’s stock worth $2,955,000 after buying an additional 13,011 shares during the period. Finally, North Star Investment Management Corp. lifted its holdings in Orion Energy Systems by 1.2% in the 3rd quarter. North Star Investment Management Corp. now owns 3,933,002 shares of the electronics maker’s stock worth $3,370,000 after buying an additional 47,300 shares during the period. Hedge funds and other institutional investors own 52.59% of the company’s stock.

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).