Orion Energy Systems (NASDAQ:OESX) Releases Earnings Results, Beats Estimates By $0.11 EPS

Orion Energy Systems (NASDAQ:OESX) posted its earnings results on Monday. The electronics maker reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.11, Morningstar.com reports. The firm had revenue of $42.38 million during the quarter, compared to the consensus estimate of $26.90 million. Orion Energy Systems had a negative net margin of 10.15% and a negative return on equity of 34.63%. Orion Energy Systems updated its FY 2020 guidance to EPS.

NASDAQ:OESX traded up $0.12 during trading hours on Tuesday, hitting $2.84. The stock had a trading volume of 17,974 shares, compared to its average volume of 313,211. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.51. Orion Energy Systems has a 1-year low of $0.53 and a 1-year high of $3.49. The firm has a 50 day simple moving average of $2.93. The company has a market capitalization of $96.36 million, a P/E ratio of -12.22 and a beta of 2.02.

In other news, CEO Michael W. Altschaefl acquired 10,000 shares of the stock in a transaction on Friday, June 7th. The stock was bought at an average price of $2.87 per share, with a total value of $28,700.00. Following the completion of the transaction, the chief executive officer now directly owns 566,076 shares of the company’s stock, valued at $1,624,638.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 18,500 shares of company stock valued at $52,780 in the last ninety days. 11.90% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Bailard Inc. acquired a new position in shares of Orion Energy Systems in the 2nd quarter valued at $91,000. Penbrook Management LLC increased its position in shares of Orion Energy Systems by 1.2% during the first quarter. Penbrook Management LLC now owns 675,750 shares of the electronics maker’s stock valued at $598,000 after purchasing an additional 8,300 shares during the period. Hillsdale Investment Management Inc. bought a new stake in shares of Orion Energy Systems during the second quarter valued at approximately $899,000. Finally, North Star Investment Management Corp. increased its position in shares of Orion Energy Systems by 15.5% during the first quarter. North Star Investment Management Corp. now owns 3,534,300 shares of the electronics maker’s stock valued at $3,130,000 after purchasing an additional 474,552 shares during the period. Institutional investors own 34.50% of the company’s stock.

OESX has been the subject of a number of research analyst reports. ValuEngine raised shares of Orion Energy Systems from a “hold” rating to a “buy” rating in a research report on Monday, May 20th. HC Wainwright increased their target price on shares of Orion Energy Systems from $3.75 to $4.50 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Orion Energy Systems presently has a consensus rating of “Buy” and an average target price of $2.12.

About Orion Energy Systems

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.

Further Reading: Preferred Stock

Earnings History for Orion Energy Systems (NASDAQ:OESX)

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