Orion Energy Systems (OESX) Downgraded by Zacks Investment Research to “Hold”

Orion Energy Systems (NASDAQ:OESX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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, HC Wainwright set a $2.00 price objective on shares of Orion Energy Systems and gave the stock a “buy” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $1.33.

Orion Energy Systems stock opened at $0.88 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 1.78. Orion Energy Systems has a 12 month low of $0.73 and a 12 month high of $2.05. The firm has a market cap of $25.16, a P/E ratio of -1.31 and a beta of 0.95.

Orion Energy Systems (NASDAQ:OESX) last issued its quarterly earnings data on Wednesday, February 7th. The electronics maker reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. Orion Energy Systems had a negative net margin of 31.32% and a negative return on equity of 57.15%. The business had revenue of $17.26 million during the quarter, compared to analysts’ expectations of $18.55 million. research analysts predict that Orion Energy Systems will post -0.41 earnings per share for the current year.

In other news, COO Scott A. Green bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were purchased at an average price of $0.90 per share, for a total transaction of $45,000.00. Following the completion of the transaction, the chief operating officer now owns 375,157 shares in the company, valued at $337,641.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have purchased 141,681 shares of company stock worth $124,052. 9.20% of the stock is owned by company insiders.

A hedge fund recently raised its stake in Orion Energy Systems stock. Ariel Investments LLC increased its position in shares of Orion Energy Systems, Inc. (NASDAQ:OESX) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,267,011 shares of the electronics maker’s stock after acquiring an additional 239,596 shares during the quarter. Ariel Investments LLC owned approximately 18.21% of Orion Energy Systems worth $4,635,000 as of its most recent filing with the SEC. 43.62% of the stock is currently owned by institutional investors.

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About Orion Energy Systems

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.

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