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

Orion Energy Systems (NASDAQ:OESX – Get Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Separately, B. Riley reduced their price target on Orion Energy Systems from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, June 8th.

Shares of NASDAQ OESX opened at $2.11 on Friday. Orion Energy Systems has a 1-year low of $2.00 and a 1-year high of $6.37. The business has a 50-day moving average of $2.49 and a 200-day moving average of $3.00. The company has a market capitalization of $65.62 million, a price-to-earnings ratio of 10.55 and a beta of 2.09.

Institutional investors and hedge funds have recently modified their holdings of the stock. Heartland Advisors Inc. boosted its holdings in Orion Energy Systems by 1.6% in the fourth quarter. Heartland Advisors Inc. now owns 1,333,650 shares of the electronics maker’s stock valued at $4,828,000 after purchasing an additional 20,600 shares during the last quarter. Connors Investor Services Inc. lifted its holdings in Orion Energy Systems by 13.1% during the 4th quarter. Connors Investor Services Inc. now owns 60,639 shares of the electronics maker’s stock worth $220,000 after buying an additional 7,000 shares during the last quarter. Radnor Capital Management LLC bought a new position in Orion Energy Systems during the 4th quarter worth approximately $40,000. Tieton Capital Management LLC bought a new position in Orion Energy Systems during the 4th quarter worth approximately $3,589,000. Finally, Verition Fund Management LLC lifted its holdings in Orion Energy Systems by 45.8% during the 3rd quarter. Verition Fund Management LLC now owns 40,102 shares of the electronics maker’s stock worth $156,000 after buying an additional 12,602 shares during the last quarter. 53.09% of the stock is owned by hedge funds and other institutional investors.

Orion Energy Systems Company Profile (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.

Further Reading

• Get a free copy of the StockNews.com research report on Orion Energy Systems (OESX)
• MarketBeat: Week in Review 6/13 – 6/17
• eBay’s Long Term Fundamentals Are Intact If You Can Stomach Short Term Volatility
• Honda’s Stock Continues To Fly Under The Radar
• Vuzix Stock Stays Optimistic
• Palo Alto Networks: Pioneering AI in Cybersecurity

Want More Great Investing Ideas?