StockNews.com assumed coverage on shares of Orion Energy Systems (NASDAQ:OESX – Free Report) in a research note published on Friday morning. The brokerage issued a hold rating on the electronics maker’s stock.
Separately, HC Wainwright reissued a buy rating and issued a $3.00 target price on shares of Orion Energy Systems in a research report on Friday, June 7th.
Read Our Latest Analysis on OESX
Orion Energy Systems Trading Down 6.3 %
Orion Energy Systems (NASDAQ:OESX – Get Free Report) last announced its earnings results on Thursday, June 6th. The electronics maker reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. The firm had revenue of $26.41 million during the quarter, compared to analysts’ expectations of $28.42 million. Orion Energy Systems had a negative return on equity of 53.45% and a negative net margin of 12.89%. As a group, analysts anticipate that Orion Energy Systems will post -0.31 earnings per share for the current fiscal year.
Institutional Trading of Orion Energy Systems
A number of hedge funds have recently added to or reduced their stakes in OESX. North Star Investment Management Corp. lifted its position in Orion Energy Systems by 33.2% during the 4th quarter. North Star Investment Management Corp. now owns 3,813,702 shares of the electronics maker’s stock worth $3,305,000 after acquiring an additional 951,240 shares during the period. Grace & White Inc. NY lifted its position in Orion Energy Systems by 154.0% during the 4th quarter. Grace & White Inc. NY now owns 2,630,829 shares of the electronics maker’s stock worth $2,280,000 after acquiring an additional 1,594,972 shares during the period. Finally, US Bancorp DE lifted its position in Orion Energy Systems by 111.5% during the 4th quarter. US Bancorp DE now owns 952,274 shares of the electronics maker’s stock worth $825,000 after acquiring an additional 502,023 shares during the period. 52.59% of the stock is owned by institutional investors and hedge funds.
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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