Orion Energy Systems (NASDAQ:OESX) Downgraded by StockNews.com to Hold

Orion Energy Systems (NASDAQ:OESXGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Separately, Zacks Investment Research raised shares of Orion Energy Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, March 23rd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.44.

Shares of NASDAQ OESX remained flat at $$2.17 during midday trading on Wednesday. 165,593 shares of the stock traded hands, compared to its average volume of 185,653. The stock has a market capitalization of $67.47 million, a price-to-earnings ratio of 2.28 and a beta of 2.08. The company’s 50-day moving average price is $2.72 and its two-hundred day moving average price is $3.21. Orion Energy Systems has a twelve month low of $2.15 and a twelve month high of $6.78.

Large investors have recently modified their holdings of the stock. Connors Investor Services Inc. grew its holdings in Orion Energy Systems by 41.2% during the 1st quarter. Connors Investor Services Inc. now owns 85,639 shares of the electronics maker’s stock worth $240,000 after acquiring an additional 25,000 shares in the last quarter. State Street Corp grew its stake in shares of Orion Energy Systems by 35.1% during the first quarter. State Street Corp now owns 85,608 shares of the electronics maker’s stock worth $240,000 after purchasing an additional 22,258 shares in the last quarter. Northern Trust Corp increased its holdings in Orion Energy Systems by 141.7% in the first quarter. Northern Trust Corp now owns 125,693 shares of the electronics maker’s stock valued at $352,000 after buying an additional 73,700 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Orion Energy Systems by 108.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 257,496 shares of the electronics maker’s stock worth $721,000 after buying an additional 134,169 shares during the last quarter. Finally, Heartland Advisors Inc. lifted its holdings in Orion Energy Systems by 5.9% during the 1st quarter. Heartland Advisors Inc. now owns 1,412,700 shares of the electronics maker’s stock worth $3,956,000 after buying an additional 79,050 shares during the last quarter. 53.09% of the stock is currently owned by hedge funds and other institutional investors.

About Orion Energy Systems (Get Rating)

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 in three segments: Orion Engineered Systems, Orion Distribution Services, and Orion U.S.

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