Orion Energy Systems (OESX) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Orion Energy Systems (NASDAQ:OESX) from a hold rating to a sell rating in a research report released on Saturday morning.

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. “

Several other equities analysts have also issued reports on the company. HC Wainwright set a $2.00 price target on Orion Energy Systems and gave the company a buy rating in a research note on Wednesday. Roth Capital set a $1.00 price target on Orion Energy Systems and gave the company a hold rating in a research note on Tuesday, August 7th.

Orion Energy Systems stock traded down $0.02 during mid-day trading on Friday, reaching $0.95. 43,752 shares of the company were exchanged, compared to its average volume of 34,108. Orion Energy Systems has a 12 month low of $0.70 and a 12 month high of $1.25. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.32 and a current ratio of 1.64.

Orion Energy Systems (NASDAQ:OESX) last posted its quarterly earnings data on Tuesday, August 7th. The electronics maker reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.02). Orion Energy Systems had a negative return on equity of 35.90% and a negative net margin of 15.03%. The company had revenue of $13.82 million for the quarter, compared to the consensus estimate of $14.80 million. equities research analysts forecast that Orion Energy Systems will post -0.26 EPS for the current fiscal year.

In other Orion Energy Systems news, CEO Michael W. Altschaefl purchased 30,000 shares of the firm’s stock in a transaction dated Monday, June 11th. The shares were bought at an average price of $0.90 per share, for a total transaction of $27,000.00. Following the purchase, the chief executive officer now owns 556,076 shares in the company, valued at approximately $500,468.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO William T. Hull acquired 39,278 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The shares were purchased at an average cost of $0.90 per share, for a total transaction of $35,350.20. Following the acquisition, the chief financial officer now owns 900,000 shares in the company, valued at $810,000. The disclosure for this purchase can be found here. In the last quarter, insiders bought 199,457 shares of company stock worth $188,755. Corporate insiders own 9.40% of the company’s stock.

A hedge fund recently raised its stake in Orion Energy Systems stock. Renaissance Technologies LLC lifted its holdings in Orion Energy Systems, Inc. (NASDAQ:OESX) by 13.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 955,667 shares of the electronics maker’s stock after acquiring an additional 112,967 shares during the period. Renaissance Technologies LLC owned approximately 3.30% of Orion Energy Systems worth $841,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 38.99% of the company’s stock.

Orion Energy Systems Company Profile

Orion Energy Systems, Inc researches, designs, develops, manufactures, implements, markets, and sells energy management systems for the commercial office and retail, area lighting, and industrial markets in North America. The company operates in three segments: Orion U.S. Markets Division, Orion Engineered Systems Division, and Orion Distribution Services Division.

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