StockNews.com began coverage on shares of Orion Energy Systems (NASDAQ:OESX – Free Report) in a research note issued to investors on Friday morning. The firm issued a hold rating on the electronics maker’s stock.
Separately, HC Wainwright dropped their price target on Orion Energy Systems from $7.00 to $3.00 and set a buy rating on the stock in a research report on Thursday, February 8th.
Check Out Our Latest Stock Report on Orion Energy Systems
Orion Energy Systems Stock Performance
Orion Energy Systems (NASDAQ:OESX – Get Free Report) last posted its earnings results on Wednesday, February 7th. The electronics maker reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. Orion Energy Systems had a negative return on equity of 57.56% and a negative net margin of 21.44%. The business had revenue of $25.97 million for the quarter, compared to analysts’ expectations of $26.16 million. On average, sell-side analysts expect that Orion Energy Systems will post -0.49 EPS for the current fiscal year.
Hedge Funds Weigh In On Orion Energy Systems
Several institutional investors have recently added to or reduced their stakes in the stock. Grace & White Inc. NY increased its position in Orion Energy Systems by 0.7% in the 1st quarter. Grace & White Inc. NY now owns 2,648,944 shares of the electronics maker’s stock valued at $2,305,000 after acquiring an additional 18,115 shares during the period. North Star Investment Management Corp. boosted its holdings in Orion Energy Systems by 1.4% in the 1st quarter. North Star Investment Management Corp. now owns 3,868,702 shares of the electronics maker’s stock valued at $3,367,000 after purchasing an additional 55,000 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in Orion Energy Systems by 111.5% in the 4th quarter. US Bancorp DE now owns 952,274 shares of the electronics maker’s stock valued at $825,000 after purchasing an additional 502,023 shares in the last quarter. Institutional investors and hedge funds 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.
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