Orion Energy Systems Inc. (NASDAQ:OESX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.

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 reissued a “buy” rating on shares of Orion Energy Systems in a report on Monday, July 18th. Rodman & Renshaw initiated coverage on Orion Energy Systems in a report on Monday, July 18th. They issued a “buy” rating and a $2.50 target price on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Orion Energy Systems has an average rating of “Buy” and an average price target of $2.75.

Shares of Orion Energy Systems (NASDAQ:OESX) opened at 1.38 on Thursday. The firm’s market capitalization is $38.80 million. Orion Energy Systems has a 12 month low of $1.04 and a 12 month high of $2.50. The company’s 50 day moving average price is $1.37 and its 200-day moving average price is $1.35.

Orion Energy Systems (NASDAQ:OESX) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.11) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.11). The company had revenue of $15.60 million for the quarter, compared to analyst estimates of $16.98 million. Orion Energy Systems had a negative return on equity of 22.77% and a negative net margin of 29.11%. Orion Energy Systems’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.13) earnings per share. On average, equities analysts predict that Orion Energy Systems will post ($0.30) earnings per share for the current fiscal year.

In related news, Director Tryg C. Jacobson acquired 21,127 shares of Orion Energy Systems stock in a transaction dated Friday, August 5th. The shares were acquired at an average cost of $1.42 per share, for a total transaction of $30,000.34. Following the completion of the transaction, the director now directly owns 85,454 shares of the company’s stock, valued at $121,344.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 10.50% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the stock. North Star Investment Management Corp. increased its stake in shares of Orion Energy Systems by 1.3% in the second quarter. North Star Investment Management Corp. now owns 2,084,668 shares of the company’s stock valued at $2,418,000 after buying an additional 27,000 shares in the last quarter. Adirondack Research & Management Inc. increased its stake in shares of Orion Energy Systems by 1.7% in the first quarter. Adirondack Research & Management Inc. now owns 1,323,153 shares of the company’s stock valued at $1,839,000 after buying an additional 21,538 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Orion Energy Systems by 18.0% in the first quarter. Renaissance Technologies LLC now owns 412,400 shares of the company’s stock valued at $573,000 after buying an additional 62,800 shares in the last quarter. Thompson Davis & CO. Inc. bought a new stake in shares of Orion Energy Systems during the second quarter valued at about $189,000. Finally, Connors Investor Services Inc. increased its stake in shares of Orion Energy Systems by 21.2% in the second quarter. Connors Investor Services Inc. now owns 142,834 shares of the company’s stock valued at $166,000 after buying an additional 25,000 shares in the last quarter. Institutional investors and hedge funds own 42.36% of the company’s stock.

About Orion Energy Systems

Orion Energy Systems, Inc is a designer and manufacturer of lighting platforms. The Company researches, develops, designs, manufactures, markets, sells and implements energy management systems consisting primarily of commercial and industrial interior and exterior lighting systems, and related services.

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