Orion Energy Systems (NASDAQ:OESX) Now Covered by StockNews.com

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

Separately, HC Wainwright cut their target price on shares of Orion Energy Systems from $7.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, February 8th.

Orion Energy Systems Stock Performance

Shares of OESX opened at $0.87 on Wednesday. Orion Energy Systems has a 12-month low of $0.81 and a 12-month high of $1.94. The stock has a market cap of $28.20 million, a P/E ratio of -1.49 and a beta of 1.59. The company has a current ratio of 1.49, a quick ratio of 0.81 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average of $0.93 and a two-hundred day moving average of $0.97.

Orion Energy Systems (NASDAQ:OESX) last issued its quarterly earnings data on Wednesday, February 7th. The electronics maker reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. Orion Energy Systems had a negative net margin of 21.44% and a negative return on equity of 57.56%. The business had revenue of $25.97 million during the quarter, compared to analysts’ expectations of $26.16 million. As a group, research analysts predict that Orion Energy Systems will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Orion Energy Systems

Several institutional investors have recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC acquired a new stake in shares of Orion Energy Systems in the first quarter worth approximately $39,000. Envestnet Asset Management Inc. purchased a new position in shares of Orion Energy Systems in the 2nd quarter worth $26,000. Victory Capital Management Inc. acquired a new position in Orion Energy Systems in the fourth quarter valued at $61,000. Manatuck Hill Partners LLC purchased a new stake in Orion Energy Systems during the fourth quarter valued at about $91,000. Finally, Susquehanna International Group LLP increased its stake in Orion Energy Systems by 130.5% during the first quarter. Susquehanna International Group LLP now owns 55,945 shares of the electronics maker’s stock worth $114,000 after acquiring an additional 31,678 shares during the last quarter. 52.59% of the stock is currently owned by institutional investors and hedge funds.

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.