Orion Energy Systems (NASDAQ:OESX) Sees Unusually-High Trading Volume

Shares of Orion Energy Systems, Inc. (NASDAQ:OESX) saw unusually-high trading volume on Thursday . Approximately 847,711 shares changed hands during mid-day trading, an increase of 190% from the previous session’s volume of 292,136 shares.The stock last traded at $3.20 and had previously closed at $2.96.

OESX has been the subject of a number of recent analyst reports. TheStreet raised Orion Energy Systems from a “d” rating to a “c” rating in a research note on Monday, August 5th. ValuEngine cut Orion Energy Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. B. Riley assumed coverage on Orion Energy Systems in a research note on Wednesday, September 4th. They issued a “buy” rating and a $4.00 price target for the company. Zacks Investment Research raised Orion Energy Systems from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research note on Thursday, October 3rd. Finally, Roth Capital cut Orion Energy Systems from a “buy” rating to a “neutral” rating and set a $3.00 target price for the company. in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Orion Energy Systems has a consensus rating of “Buy” and a consensus price target of $3.63.

The business has a 50 day moving average of $2.79 and a 200-day moving average of $2.63. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $90.69 million, a P/E ratio of -13.91 and a beta of 2.10.

Orion Energy Systems (NASDAQ:OESX) last posted its earnings results on Wednesday, November 6th. The electronics maker reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.15. Orion Energy Systems had a return on equity of 46.74% and a net margin of 7.07%. The business had revenue of $48.32 million during the quarter, compared to analysts’ expectations of $33.72 million. On average, analysts anticipate that Orion Energy Systems, Inc. will post 0.36 EPS for the current fiscal year.

In related news, COO Scott A. Green sold 95,642 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $3.02, for a total transaction of $288,838.84. Following the completion of the sale, the chief operating officer now directly owns 526,697 shares of the company’s stock, valued at approximately $1,590,624.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Scott A. Green sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $2.95, for a total value of $147,500.00. Following the transaction, the chief operating officer now directly owns 526,697 shares of the company’s stock, valued at approximately $1,553,756.15. The disclosure for this sale can be found here. 11.90% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new position in Orion Energy Systems during the 2nd quarter worth approximately $217,000. Hillsdale Investment Management Inc. acquired a new position in Orion Energy Systems during the 2nd quarter worth approximately $899,000. Morgan Stanley boosted its position in Orion Energy Systems by 16,471.6% during the 2nd quarter. Morgan Stanley now owns 82,858 shares of the electronics maker’s stock worth $246,000 after acquiring an additional 82,358 shares during the last quarter. BlackRock Inc. boosted its position in Orion Energy Systems by 781.8% during the 2nd quarter. BlackRock Inc. now owns 156,609 shares of the electronics maker’s stock worth $465,000 after acquiring an additional 138,849 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Orion Energy Systems by 41.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 89,342 shares of the electronics maker’s stock worth $265,000 after acquiring an additional 26,124 shares during the last quarter. 35.16% of the stock is owned by hedge funds and other institutional investors.

Orion Energy Systems Company Profile (NASDAQ:OESX)

Orion Energy Systems, Inc researches, designs, develops, manufactures, implements, markets, and sells energy management systems for the commercial office and retail, area lighting, and industrial markets in North America. The company operates in three segments: Orion U.S. Markets Division, Orion Engineered Systems Division, and Orion Distribution Services Division.

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