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

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

Separately, HC Wainwright reissued 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

NASDAQ:OESX opened at $0.85 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.70 and a debt-to-equity ratio of 0.70. Orion Energy Systems has a 12-month low of $0.81 and a 12-month high of $1.53. The stock’s fifty day simple moving average is $0.91 and its 200-day simple moving average is $0.96. The firm has a market capitalization of $27.67 million, a P/E ratio of -2.28 and a beta of 1.43.

Orion Energy Systems (NASDAQ:OESX) last posted its earnings results on Wednesday, August 7th. The electronics maker reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01. The company had revenue of $19.91 million during the quarter, compared to analyst estimates of $19.16 million. Orion Energy Systems had a negative return on equity of 48.47% and a negative net margin of 9.47%. During the same period in the previous year, the company earned ($0.18) EPS. Equities research analysts expect that Orion Energy Systems will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On Orion Energy Systems

Several institutional investors have recently modified their holdings of the business. US Bancorp DE grew 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 in the last quarter. Tieton Capital Management LLC boosted 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 purchasing an additional 53,789 shares during the period. Grace & White Inc. NY increased its holdings in shares of 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, North Star Investment Management Corp. raised its position in shares of 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 purchasing an additional 55,000 shares during the period. Institutional investors own 52.59% of the company’s stock.

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.