StockNews.com initiated coverage on shares of Orion Energy Systems (NASDAQ:OESX – Free Report) in a research note released on Wednesday. The brokerage issued a hold rating on the electronics maker’s stock.
Separately, HC Wainwright lowered their target price on shares of 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 Analysis on Orion Energy Systems
Orion Energy Systems Stock Down 0.7 %
Orion Energy Systems (NASDAQ:OESX – Get Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The electronics maker reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. Orion Energy Systems had a negative net margin of 21.44% and a negative return on equity of 57.56%. The business had revenue of $25.97 million for the quarter, compared to the consensus estimate of $26.16 million. Analysts expect that Orion Energy Systems will post -0.49 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Orion Energy Systems
Several hedge funds have recently bought and sold shares of OESX. Envestnet Asset Management Inc. acquired a new position in Orion Energy Systems during the second quarter worth $26,000. Kestra Private Wealth Services LLC acquired a new position in Orion Energy Systems during the first quarter worth $39,000. Victory Capital Management Inc. bought a new stake in Orion Energy Systems during the fourth quarter valued at about $61,000. Manatuck Hill Partners LLC bought a new stake in Orion Energy Systems during the fourth quarter valued at about $91,000. Finally, Susquehanna International Group LLP boosted its holdings in Orion Energy Systems by 130.5% during the first quarter. Susquehanna International Group LLP now owns 55,945 shares of the electronics maker’s stock valued at $114,000 after acquiring an additional 31,678 shares during the period. 52.59% of the stock is owned by institutional investors and hedge funds.
Orion Energy Systems Company Profile
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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