Orion Energy Systems, Inc. Expected to Earn Q3 2024 Earnings of ($0.12) Per Share (NASDAQ:OESX)

Orion Energy Systems, Inc. (NASDAQ:OESX) – Stock analysts at HC Wainwright upped their Q3 2024 earnings estimates for shares of Orion Energy Systems in a research report issued to clients and investors on Wednesday, November 8th. HC Wainwright analyst A. Dayal now forecasts that the electronics maker will earn ($0.12) per share for the quarter, up from their previous estimate of ($0.18). HC Wainwright has a “Buy” rating and a $7.00 price target on the stock. The consensus estimate for Orion Energy Systems’ current full-year earnings is ($0.47) per share. HC Wainwright also issued estimates for Orion Energy Systems’ Q4 2024 earnings at ($0.05) EPS, FY2024 earnings at ($0.51) EPS, FY2025 earnings at ($0.13) EPS, FY2026 earnings at $0.17 EPS, FY2027 earnings at $0.44 EPS and FY2028 earnings at $0.76 EPS.

Orion Energy Systems (NASDAQ:OESX) last posted its quarterly earnings results on Wednesday, August 9th. The electronics maker reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.07). The firm had revenue of $17.61 million during the quarter, compared to analysts’ expectations of $22.38 million. Orion Energy Systems had a negative net margin of 50.18% and a negative return on equity of 51.57%.

Separately, StockNews.com assumed coverage on shares of Orion Energy Systems in a report on Thursday. They issued a “hold” rating on the stock.

Orion Energy Systems Price Performance

NASDAQ:OESX opened at $0.96 on Friday. The company has a market capitalization of $31.20 million, a P/E ratio of -0.76 and a beta of 2.02. Orion Energy Systems has a 52 week low of $0.92 and a 52 week high of $2.45. The stock’s fifty day moving average is $1.21 and its two-hundred day moving average is $1.46. The company has a quick ratio of 1.13, a current ratio of 1.92 and a debt-to-equity ratio of 0.37.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OESX. Envestnet Asset Management Inc. purchased a new position in Orion Energy Systems in the second quarter valued at $26,000. Kestra Private Wealth Services LLC purchased a new position in Orion Energy Systems in the first quarter valued at approximately $39,000. Victory Capital Management Inc. acquired a new stake in Orion Energy Systems during the 4th quarter worth $61,000. Manatuck Hill Partners LLC purchased a new position in shares of Orion Energy Systems during the fourth quarter worth about $91,000. Finally, Cox Capital Mgt LLC purchased a new stake in Orion Energy Systems in the third quarter valued at approximately $101,000. Hedge funds and other institutional investors own 56.69% of the company’s stock.

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.