Orion Energy Systems, Inc. (NASDAQ:OESX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
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. “
Separately, Roth Capital set a $2.00 target price on Orion Energy Systems and gave the stock a “hold” rating in a report on Wednesday, February 8th.
Orion Energy Systems (NASDAQ:OESX) traded up 1.0308% during midday trading on Friday, hitting $1.9701. The stock had a trading volume of 36,155 shares. The stock’s market cap is $55.76 million. The company’s 50 day moving average price is $1.92 and its 200-day moving average price is $1.81. Orion Energy Systems has a 52-week low of $1.04 and a 52-week high of $2.57.
Orion Energy Systems (NASDAQ:OESX) last announced its earnings results on Wednesday, February 8th. The company reported ($0.04) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.04). The firm earned $20.60 million during the quarter, compared to analysts’ expectations of $21.26 million. Orion Energy Systems had a negative return on equity of 18.45% and a negative net margin of 21.59%. The company’s quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.07) EPS. Analysts forecast that Orion Energy Systems will post ($0.24) EPS for the current fiscal year.
In other Orion Energy Systems news, CFO William T. Hull acquired 44,851 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The stock was bought at an average price of $1.80 per share, for a total transaction of $80,731.80. Following the acquisition, the chief financial officer now directly owns 550,000 shares in the company, valued at $990,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John H. Scribante acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The shares were acquired at an average price of $1.76 per share, with a total value of $35,200.00. Following the acquisition, the director now owns 630,981 shares in the company, valued at $1,110,526.56. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 66,851 shares of company stock valued at $119,752. 10.50% of the stock is owned by company insiders.
An institutional investor recently raised its position in Orion Energy Systems stock. Renaissance Technologies LLC boosted its position in shares of Orion Energy Systems, Inc. (NASDAQ:OESX) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 753,500 shares of the company’s stock after buying an additional 107,800 shares during the period. Renaissance Technologies LLC owned about 2.66% of Orion Energy Systems worth $1,635,000 at the end of the most recent quarter. 44.69% of the stock is owned by institutional investors and hedge funds.
Orion Energy Systems Company Profile
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.
Get a free copy of the Zacks research report on Orion Energy Systems (OESX)
For more information about research offerings from Zacks Investment Research, visit Zacks.com