Orion Energy Systems (OESX) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Orion Energy Systems (NASDAQ:OESX) from a hold rating to a sell rating in a report published on Wednesday.

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. “

A number of other analysts have also recently issued reports on the company. Roth Capital lowered their target price on Orion Energy Systems from $1.00 to $0.85 and set a neutral rating for the company in a research note on Wednesday, November 14th. HC Wainwright set a $2.00 target price on Orion Energy Systems and gave the stock a buy rating in a research note on Wednesday, November 14th.

Shares of NASDAQ:OESX opened at $0.74 on Wednesday. Orion Energy Systems has a fifty-two week low of $0.68 and a fifty-two week high of $1.25. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.51 and a quick ratio of 0.91.

Orion Energy Systems (NASDAQ:OESX) last posted its earnings results on Tuesday, November 13th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Orion Energy Systems had a negative return on equity of 36.26% and a negative net margin of 13.52%. The business had revenue of $13.20 million for the quarter, compared to the consensus estimate of $15.44 million. On average, equities analysts anticipate that Orion Energy Systems will post -0.29 earnings per share for the current year.

An institutional investor recently raised its position in Orion Energy Systems stock. Renaissance Technologies LLC increased its holdings in shares of Orion Energy Systems, Inc. (NASDAQ:OESX) by 6.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,071,400 shares of the electronics maker’s stock after purchasing an additional 67,200 shares during the quarter. Renaissance Technologies LLC owned 3.64% of Orion Energy Systems worth $1,179,000 as of its most recent filing with the SEC. 40.85% 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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