Orion Energy Systems (NASDAQ:OESX) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Orion Energy Systems (NASDAQ:OESX) in a report published on Wednesday morning. The firm issued a hold rating on the electronics maker’s stock.

Separately, HC Wainwright cut their price objective on Orion Energy Systems from $7.00 to $3.00 and set a buy rating for the company in a research report on Thursday, February 8th.

Orion Energy Systems Stock Performance

Shares of Orion Energy Systems stock opened at $0.90 on Wednesday. The business’s 50 day moving average price is $0.93 and its 200 day moving average price is $0.98. The company has a current ratio of 1.49, a quick ratio of 0.81 and a debt-to-equity ratio of 0.48. Orion Energy Systems has a one year low of $0.81 and a one year high of $1.94.

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

Hedge Funds Weigh In On Orion Energy Systems

A number of hedge funds have recently made changes to their positions in OESX. Envestnet Asset Management Inc. acquired a new position in Orion Energy Systems during the second quarter worth $26,000. Kestra Private Wealth Services LLC acquired a new position in Orion Energy Systems during the 1st quarter worth about $39,000. Victory Capital Management Inc. purchased a new position in Orion Energy Systems during the 4th quarter valued at about $61,000. Manatuck Hill Partners LLC purchased a new stake in Orion Energy Systems during the fourth quarter worth about $91,000. Finally, Susquehanna International Group LLP lifted its position in shares of 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 purchasing an additional 31,678 shares in the last quarter. Hedge funds and other institutional investors own 52.59% of the company’s stock.

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.