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

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

Separately, HC Wainwright reaffirmed 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 Stock Performance

OESX opened at $0.84 on Wednesday. The firm has a market capitalization of $27.64 million, a PE ratio of -3.36 and a beta of 1.39. The company has a current ratio of 1.49, a quick ratio of 0.93 and a debt-to-equity ratio of 0.77. Orion Energy Systems has a twelve month low of $0.81 and a twelve month high of $1.53. The firm’s 50-day moving average price is $0.90 and its 200 day moving average price is $0.97.

Orion Energy Systems (NASDAQ:OESX) last released its quarterly earnings data on Wednesday, November 6th. The electronics maker reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Orion Energy Systems had a negative return on equity of 48.81% and a negative net margin of 8.76%. The company had revenue of $19.36 million for the quarter, compared to analyst estimates of $19.40 million. During the same period last year, the firm posted ($0.14) EPS. As a group, sell-side analysts expect that Orion Energy Systems will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Orion Energy Systems

Several institutional investors have recently modified their holdings of OESX. Grace & White Inc. NY grew its stake in shares of Orion Energy Systems by 0.5% during the second quarter. Grace & White Inc. NY now owns 2,661,955 shares of the electronics maker’s stock worth $2,955,000 after purchasing an additional 13,011 shares in the last quarter. Tieton Capital Management LLC increased its position in Orion Energy Systems by 2.5% during the second 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. North Star Investment Management Corp. lifted its stake in Orion Energy Systems by 1.2% in the third quarter. North Star Investment Management Corp. now owns 3,933,002 shares of the electronics maker’s stock valued at $3,370,000 after buying an additional 47,300 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Orion Energy Systems by 9.0% in the 3rd quarter. Geode Capital Management LLC now owns 312,127 shares of the electronics maker’s stock valued at $268,000 after acquiring an additional 25,816 shares during the period. Institutional investors and hedge funds own 52.59% of the company’s stock.

Orion Energy Systems Company Profile

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).