Orion Energy Systems (NASDAQ:OESX) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Shares of Orion Energy Systems, Inc. (NASDAQ:OESX) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.89 and traded as high as $7.36. Orion Energy Systems shares last traded at $7.09, with a volume of 18,727 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. HC Wainwright cut their price objective on shares of Orion Energy Systems from $30.00 to $20.00 and set a “buy” rating for the company in a report on Friday, June 27th. Craig Hallum dropped their target price on shares of Orion Energy Systems from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, June 27th. Finally, Wall Street Zen assumed coverage on shares of Orion Energy Systems in a report on Thursday, May 22nd. They issued a “hold” rating on the stock. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $17.50.

Orion Energy Systems Stock Up 4.0%

The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.84 and a current ratio of 1.23. The firm has a market capitalization of $23.59 million, a PE ratio of -2.44 and a beta of 0.90. The company has a fifty day moving average price of $6.25 and a 200-day moving average price of $6.89.

Orion Energy Systems (NASDAQ:OESX) last announced its quarterly earnings results on Wednesday, August 6th. The electronics maker reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.10. The company had revenue of $19.58 million for the quarter, compared to analysts’ expectations of $20.00 million. Orion Energy Systems had a negative net margin of 11.70% and a negative return on equity of 62.99%. As a group, analysts expect that Orion Energy Systems, Inc. will post -0.32 earnings per share for the current year.

Institutional Trading of Orion Energy Systems

Several hedge funds have recently made changes to their positions in the business. Mariner LLC purchased a new position in Orion Energy Systems in the fourth quarter worth about $35,000. Thompson Davis & CO. Inc. bought a new stake in shares of Orion Energy Systems in the 1st quarter valued at approximately $66,000. US Bancorp DE lifted its stake in shares of Orion Energy Systems by 5.1% in the 1st quarter. US Bancorp DE now owns 799,508 shares of the electronics maker’s stock valued at $577,000 after purchasing an additional 39,042 shares during the last quarter. Finally, Grace & White Inc. NY boosted its holdings in shares of Orion Energy Systems by 3.6% in the 2nd quarter. Grace & White Inc. NY now owns 2,884,085 shares of the electronics maker’s stock worth $1,731,000 after purchasing an additional 99,499 shares during the period. 52.59% of the stock is currently owned by hedge funds and other institutional investors.

Orion Energy Systems Company Profile

Orion Energy Systems, Inc, together with its subsidiaries, researches, designs, develops, manufactures, markets, sells, installs, and implements energy management systems for commercial office and retail, area lighting, industrial applications, and government in North America and Germany. It operates in three segments: Lighting, Maintenance, and Electric Vehicle (EV).