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

Investment analysts at StockNews.com started coverage on shares of Orion Energy Systems (NASDAQ:OESX) in a report released on Wednesday. The firm set a “hold” rating on the electronics maker’s stock.

Separately, HC Wainwright restated a “buy” rating and set a $3.00 target price on shares of Orion Energy Systems in a research note on Friday, June 7th.

Orion Energy Systems Stock Up 2.5 %

Shares of OESX opened at $1.00 on Wednesday. The stock has a market capitalization of $32.74 million, a PE ratio of -2.70 and a beta of 1.47. Orion Energy Systems has a 1 year low of $0.81 and a 1 year high of $1.75. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.95 and a current ratio of 1.60. The company’s 50-day simple moving average is $1.09 and its 200-day simple moving average is $0.99.

Orion Energy Systems (NASDAQ:OESX) last issued its quarterly earnings results on Thursday, June 6th. The electronics maker reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.07. The business had revenue of $26.41 million for the quarter, compared to analysts’ expectations of $28.42 million. Orion Energy Systems had a negative net margin of 12.89% and a negative return on equity of 53.45%. Analysts forecast that Orion Energy Systems will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of Orion Energy Systems

A number of large investors have recently made changes to their positions in the company. North Star Investment Management Corp. increased its stake in shares of Orion Energy Systems by 1.4% during the first quarter. North Star Investment Management Corp. now owns 3,868,702 shares of the electronics maker’s stock worth $3,367,000 after buying an additional 55,000 shares during the period. Grace & White Inc. NY increased its stake in Orion Energy Systems by 0.5% in the second quarter. Grace & White Inc. NY now owns 2,661,955 shares of the electronics maker’s stock valued at $2,955,000 after purchasing an additional 13,011 shares during the last quarter. Finally, US Bancorp DE increased its stake in Orion Energy Systems by 111.5% in the fourth quarter. US Bancorp DE now owns 952,274 shares of the electronics maker’s stock valued at $825,000 after purchasing an additional 502,023 shares during the last quarter. 52.59% of the stock is currently owned by hedge funds and other institutional investors.

About Orion Energy Systems

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.