StockNews.com Initiates Coverage on Orion Energy Systems (NASDAQ:OESX)

Equities researchers at StockNews.com began coverage on shares of Orion Energy Systems (NASDAQ:OESX) in a note issued to investors on Wednesday. The firm set a “hold” rating on the electronics maker’s stock.

Orion Energy Systems Stock Up 3.1 %

OESX opened at $0.81 on Wednesday. The company has a market capitalization of $26.49 million, a PE ratio of -3.22 and a beta of 1.32. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 0.93. Orion Energy Systems has a fifty-two week low of $0.68 and a fifty-two week high of $1.53. The business has a 50-day moving average of $0.83 and a 200-day moving average of $0.90.

Orion Energy Systems (NASDAQ:OESX) last released its quarterly earnings results on Wednesday, November 6th. The electronics maker reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The company had revenue of $19.36 million for the quarter, compared to the consensus estimate of $19.40 million. Orion Energy Systems had a negative return on equity of 48.81% and a negative net margin of 8.76%. During the same quarter last year, the company posted ($0.14) EPS. Equities research analysts forecast that Orion Energy Systems will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Orion Energy Systems

A number of hedge funds have recently made changes to their positions in OESX. Geode Capital Management LLC grew its holdings in shares of Orion Energy Systems by 9.0% during the third quarter. Geode Capital Management LLC now owns 312,127 shares of the electronics maker’s stock worth $268,000 after purchasing an additional 25,816 shares during the last quarter. Grace & White Inc. NY grew its holdings in Orion Energy Systems by 1.3% during the 3rd quarter. Grace & White Inc. NY now owns 2,695,406 shares of the electronics maker’s stock worth $2,310,000 after acquiring an additional 33,451 shares during the last quarter. Finally, North Star Investment Management Corp. grew its holdings in Orion Energy Systems by 1.2% during the 3rd quarter. North Star Investment Management Corp. now owns 3,933,002 shares of the electronics maker’s stock worth $3,370,000 after acquiring an additional 47,300 shares during the last quarter. Institutional investors and hedge funds own 52.59% of the company’s stock.

About Orion Energy Systems

Orion Energy Systems, Inc, together with its subsidiaries, researches, designs, develops, manufactures, markets, sells, installs, and implements energy management systems for commercial office and retail, area lighting, industrial applications, and government in North America and Germany. It operates in three segments: Lighting, Maintenance, and Electric Vehicle (EV).