Orion Energy Systems (NASDAQ:OESX) Share Price Crosses Above 200-Day Moving Average of $0.97

Orion Energy Systems, Inc. (NASDAQ:OESX)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.97 and traded as high as $1.26. Orion Energy Systems shares last traded at $1.23, with a volume of 69,853 shares.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OESX. HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of Orion Energy Systems in a research note on Friday, June 7th. StockNews.com assumed coverage on shares of Orion Energy Systems in a research note on Friday. They issued a “hold” rating on the stock.

Orion Energy Systems Stock Performance

The company has a current ratio of 1.60, a quick ratio of 0.95 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average price of $1.01 and a 200-day moving average price of $0.97.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. North Star Investment Management Corp. lifted its holdings in Orion Energy Systems by 1.4% in the first quarter. North Star Investment Management Corp. now owns 3,868,702 shares of the electronics maker’s stock valued at $3,367,000 after acquiring an additional 55,000 shares during the period. Grace & White Inc. NY increased its position in shares of Orion Energy Systems by 0.7% during the 1st quarter. Grace & White Inc. NY now owns 2,648,944 shares of the electronics maker’s stock valued at $2,305,000 after purchasing an additional 18,115 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Orion Energy Systems by 111.5% in the 4th quarter. US Bancorp DE now owns 952,274 shares of the electronics maker’s stock worth $825,000 after purchasing an additional 502,023 shares during the period. 52.59% of the stock is owned by hedge funds and other institutional investors.

Orion Energy Systems Company Profile

Orion Energy Systems, Inc researches, designs, develops, manufactures, markets, sells, installs, and implements energy management systems for commercial office and retail, exterior area lighting, and industrial applications in North America. The company operates through three segments: Orion Services Group, Orion Distribution Services, and Orion U.S.