Zacks Investment Research downgraded shares of Orion Energy Systems (NASDAQ:OESX) from a hold rating to a sell rating in a research note issued to investors 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. “
OESX has been the topic of several other research reports. HC Wainwright set a $2.00 price objective on Orion Energy Systems and gave the company a buy rating in a research note on Wednesday, June 6th. Roth Capital set a $1.00 price objective on Orion Energy Systems and gave the company a hold rating in a research note on Tuesday, August 7th.
Shares of NASDAQ OESX traded down $0.02 during midday trading on Friday, reaching $0.95. The company’s stock had a trading volume of 43,752 shares, 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 announced its earnings results on Tuesday, August 7th. The electronics maker reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $13.82 million during the quarter, compared to analysts’ expectations of $14.80 million. research analysts anticipate that Orion Energy Systems will post -0.26 EPS for the current fiscal year.
In other news, COO Scott A. Green bought 29,607 shares of Orion Energy Systems stock in a transaction that occurred on Monday, June 18th. The shares were acquired at an average price of $1.05 per share, with a total value of $31,087.35. Following the completion of the purchase, the chief operating officer now directly owns 504,764 shares in the company, valued at $530,002.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael W. Altschaefl bought 30,000 shares of Orion Energy Systems stock in a transaction that occurred on Monday, June 11th. The stock was purchased at an average cost 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 of the company’s stock, valued at $500,468.40. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 199,457 shares of company stock worth $188,755. Insiders own 9.40% of the company’s stock.
An institutional investor recently raised its position in Orion Energy Systems stock. North Star Investment Management Corp. raised its holdings in shares of Orion Energy Systems, Inc. (NASDAQ:OESX) by 6.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,009,813 shares of the electronics maker’s stock after buying an additional 189,685 shares during the period. North Star Investment Management Corp. owned about 10.36% of Orion Energy Systems worth $3,311,000 at the end of the most recent reporting period. 38.99% of the stock is owned by institutional investors.
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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