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

Posted by Defense World Staff on Jun 18th, 2023

Analysts at StockNews.com began coverage on shares of Orion Energy Systems (NASDAQ:OESX – Get Rating) in a research note issued on Sunday. The brokerage set a “hold” rating on the electronics maker’s stock.

Separately, HC Wainwright restated a “buy” rating on shares of Orion Energy Systems in a report on Wednesday, June 7th.

Orion Energy Systems Stock Performance

Shares of OESX opened at $1.76 on Friday. The company has a 50-day simple moving average of $1.59 and a 200-day simple moving average of $1.83. The company has a quick ratio of 1.24, a current ratio of 2.06 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $56.84 million, a PE ratio of -1.63 and a beta of 1.94. Orion Energy Systems has a 52-week low of $1.38 and a 52-week high of $2.45.

Insider Buying and Selling at Orion Energy Systems

In other Orion Energy Systems news, Director Ellen B. Richstone bought 16,815 shares of the company’s stock in a transaction on Friday, June 9th. The stock was purchased at an average cost of $1.78 per share, for a total transaction of $29,930.70. Following the acquisition, the director now owns 151,721 shares of the company’s stock, valued at approximately $270,063.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Orion Energy Systems

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Orion Energy Systems by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 259,474 shares of the electronics maker’s stock worth $472,000 after purchasing an additional 5,688 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Orion Energy Systems by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 246,631 shares of the electronics maker’s stock worth $449,000 after acquiring an additional 6,014 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new stake in shares of Orion Energy Systems in the first quarter worth approximately $39,000. State Street Corp boosted its position in shares of Orion Energy Systems by 35.1% in the first quarter. State Street Corp now owns 85,608 shares of the electronics maker’s stock worth $240,000 after acquiring an additional 22,258 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in shares of Orion Energy Systems in the fourth quarter worth approximately $44,000. 53.86% of the stock is owned by institutional investors and hedge funds.

About Orion Energy Systems

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Orion Energy Systems, Inc engages in the design, development, and trade of lighting systems, and retrofit lighting solutions. It operates through the following segments: Orion Services Group Division (OSG), Orion Distribution Services Division (ODS), Orion U.S. Markets Division (USM), and Corporate and Other.