Orion Energy Systems Inc. (NASDAQ: OESX): Street Finally Waking Up


    Renaissance Technologies LLC recently announced the acquisition of new stake in Orion Energy Systems Inc. (NASDAQ:OESX). The institutional investor has increased its shareholding in the Industrials company by 1.96% to 2.36 million shares with purchase of 45428.0 shares. This fresh investment now brings its stake to 7.76% valued currently at $8.17 million. In addition, The Vanguard Group, Inc. raised its holdings by 7436.0 to 1.47 million shares. And Acadian Asset Management LLC has lifted its position by 135.76% or 0.43 million shares – to 0.75 million shares.

    With over 0.71 million Orion Energy Systems Inc. (OESX) shares trading Monday and a closing price of $3.99 on the day, the dollar volume was approximately $2.82 million. The shares have shown a positive weekly performance of 17.01% and its price on 07/20/20 gained nearly 5.00%. Currently, there are 30.26M common shares owned by the public and among those 25.74M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for OESX have a consensus price objective of $7.19. The analysts have set the share’s price value over the next 12 months at a high of $10.00 and a low of $5.75 should the stock experience a downside. Incidentally, analysts’ outlook for the Orion Energy Systems Inc. stock is 2.00 for the next 12 months. But an upside of 60.1% will see the stock hit the forecast high price target while mean target price for the stock is $6.50.

    Insiders at the company have transacted a total of 31 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 521,261 shares. Insider sales of the common stock occurred on 14 occasions, with total insider shares sold totaling 639,391 shares.

    The top 3 mutual fund holders in Orion Energy Systems Inc. are Northern Lights Fund Trust II – N, Vanguard Total Stock Market Index, and Heartland Group Inc. – Value Fund. Northern Lights Fund Trust II – N owns 1.3 million shares of the company’s stock, all valued at over $4.52 million. The company sold -0.32 million shares recently to bring their total holdings to about 4.29% of the shares outstanding. Vanguard Total Stock Market Index sold -0.25 million shares to see its total holdings shrink to 1.29 million shares valued at over $4.47 million and representing 4.25% of the shares outstanding. Heartland Group Inc. – Value Fund now owns shares totaling to 2.47% of the shares outstanding.

    Shares of Orion Energy Systems Inc. (NASDAQ: OESX) opened at $3.833, up $0.03 from a prior closing price of $3.80. However, the script later closed the day at $3.99, up 5.00%. The company’s stock has a 5-day price change of 17.01% and -7.21% over the past three months. OESX shares are trading 19.10% year to date (YTD), with the 12-month market performance up to 36.64% higher. It has a 12-month low price of $2.35 and touched a high of $6.40 over the same period. Currently, 0.71 million shares have been traded, compared to an average intraday trading volume of 449.82K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 12.60%, 0.29%, and 4.66% respectively.

    Institutional ownership of Orion Energy Systems Inc. (NASDAQ: OESX) shares accounts for 49.90% of the company’s 30.26M shares outstanding. Mutual fund holders own 24.07%, while other institutional holders and individual stakeholders account for 36.11% and 23.45% respectively.

    It has a market capitalization of $116.23M and a beta (3y monthly) value of 2.00. The stock’s trailing 12-month PE ratio is 9.85, while the earnings-per-share (ttm) stands at $0.41. The company has a PEG of 0.39 and a Quick Ratio of 1.50 with the debt-to-equity ratio at 0.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.24% over the week and 6.17% over the month.

    Analysts forecast that Orion Energy Systems Inc. (OESX) will achieve an EPS of -$0.08 for the current quarter, -$0.05 for the next quarter and $0.43 for 2022. The lowest estimate earnings-per-share for the quarter is -$0.1 while analysts give the company a high EPS estimate of -$0.07. Comparatively, EPS for the current quarter was $0.13 a year ago. Earnings per share for the fiscal year are expected to increase by 277.50%, and 433.75% over the next financial year. EPS should grow at an annualized rate of 25.00% over the next five years, compared to 17.90% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Orion Energy Systems Inc. (OESX) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the OESX, a number of firms have released research notes about the stock. ROTH Capital stated their Buy rating for the stock in a research note on March 16, 2020, with the firm’s price target at $5-$10. B. Riley FBR coverage for the Orion Energy Systems Inc. (OESX) stock in a research note released on September 04, 2019 offered a Buy rating with a price target of $4. Rodman & Renshaw was of a view on July 18, 2016 that the stock is Buy, while ROTH Capital gave the stock Neutral rating on August 04, 2015, issuing a price target of $5- $2. ROTH Capital on their part issued Buy rating on November 05, 2014.


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