Renaissance Technologies LLC Grows Stock Position in Orion Energy Systems, Inc. $OESX

Renaissance Technologies LLC lifted its position in Orion Energy Systems, Inc. (NASDAQ:OESX) by 32.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 178,469 shares of the electronics maker’s stock after purchasing an additional 43,693 shares during the period. Renaissance Technologies LLC owned about 4.41% of Orion Energy Systems worth $1,560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of OESX. North Star Investment Management Corp. boosted its holdings in shares of Orion Energy Systems by 6.3% during the fourth quarter. North Star Investment Management Corp. now owns 407,452 shares of the electronics maker’s stock worth $6,267,000 after purchasing an additional 23,998 shares during the period. Tieton Capital Management LLC increased its holdings in Orion Energy Systems by 0.6% during the 4th quarter. Tieton Capital Management LLC now owns 256,194 shares of the electronics maker’s stock valued at $3,940,000 after purchasing an additional 1,580 shares during the period. Marshall Wace LLP bought a new position in Orion Energy Systems during the 4th quarter valued at approximately $706,000. Quadrature Capital Ltd bought a new position in Orion Energy Systems during the 4th quarter valued at approximately $202,000. Finally, NewEdge Advisors LLC purchased a new stake in Orion Energy Systems in the 4th quarter worth approximately $232,000. 52.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on OESX. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Orion Energy Systems in a research report on Thursday, August 6th. Zacks Research raised Orion Energy Systems from a “strong sell” rating to a “strong-buy” rating in a research note on Monday. Wall Street Zen upgraded shares of Orion Energy Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Finally, Weiss Ratings raised shares of Orion Energy Systems from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Orion Energy Systems presently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Orion Energy Systems Stock Up 4.3%

OESX stock opened at $20.59 on Thursday. Orion Energy Systems, Inc. has a fifty-two week low of $5.60 and a fifty-two week high of $20.80. The company has a market capitalization of $84.21 million, a price-to-earnings ratio of -411.80 and a beta of 0.77. The business’s 50 day moving average price is $11.29 and its two-hundred day moving average price is $10.98. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 1.54.

Orion Energy Systems (NASDAQ:OESX) last released its quarterly earnings results on Wednesday, August 5th. The electronics maker reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.40. The company had revenue of $25.74 million for the quarter, compared to analyst estimates of $23.56 million. Orion Energy Systems had a return on equity of 11.66% and a net margin of 0.04%. As a group, analysts forecast that Orion Energy Systems, Inc. will post 0.23 earnings per share for the current fiscal year.

Orion Energy Systems Profile

Orion Energy Systems, Inc is a U.S.-based provider of energy-efficient lighting and building controls solutions. Founded in 1996 and headquartered in Manitowoc, Wisconsin, the company specializes in designing, manufacturing and deploying LED lighting fixtures and integrated energy management systems for commercial and industrial customers.

The company’s product portfolio includes a range of LED light fixtures, smart sensors, networked controls and cloud-based energy management software.