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

StockNews.com initiated coverage on shares of Orion Energy Systems (NASDAQ:OESX) in a research note issued to investors on Thursday morning. The firm issued a hold rating on the electronics maker’s stock.

Separately, HC Wainwright restated a buy rating and set a $3.00 target price on shares of Orion Energy Systems in a research report on Friday, June 7th.

Orion Energy Systems Stock Up 3.4 %

Shares of NASDAQ OESX opened at $1.53 on Thursday. The firm’s 50-day moving average price is $0.98 and its 200-day moving average price is $0.96. The company has a current ratio of 1.60, a quick ratio of 0.95 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $49.83 million, a price-to-earnings ratio of -4.14 and a beta of 1.61. Orion Energy Systems has a 12-month low of $0.81 and a 12-month high of $1.82.

Hedge Funds Weigh In On Orion Energy Systems

Several hedge funds have recently added to or reduced their stakes in OESX. Grace & White Inc. NY grew its holdings 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 valued at $2,280,000 after purchasing an additional 1,594,972 shares during the last quarter. North Star Investment Management Corp. grew its stake in Orion Energy Systems by 33.2% in 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 in the last quarter. Finally, US Bancorp DE grew its stake in Orion Energy Systems by 111.5% in 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 in the last quarter. 52.59% of the stock is currently owned by institutional investors.

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.