Ariel Investments LLC reduced its holdings in Orion Energy Systems, Inc. (NASDAQ:OESX) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,704,759 shares of the electronics maker’s stock after selling 141,489 shares during the period. Ariel Investments LLC owned about 15.04% of Orion Energy Systems worth $5,175,000 at the end of the most recent quarter.
Separately, North Star Investment Management Corp. boosted its holdings in shares of Orion Energy Systems by 6.7% in the 2nd quarter. North Star Investment Management Corp. now owns 3,009,813 shares of the electronics maker’s stock valued at $3,311,000 after acquiring an additional 189,685 shares during the last quarter. Institutional investors and hedge funds own 40.77% of the company’s stock.
OESX opened at $0.92 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.64 and a debt-to-equity ratio of 0.11. Orion Energy Systems, Inc. has a 1 year low of $0.70 and a 1 year high of $1.25. The firm has a market capitalization of $28.39 million, a P/E ratio of -2.43 and a beta of 0.72.
Orion Energy Systems (NASDAQ:OESX) last posted its earnings results on Tuesday, August 7th. The electronics maker reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). Orion Energy Systems had a negative net margin of 15.03% and a negative return on equity of 35.90%. The firm had revenue of $13.82 million during the quarter, compared to analyst estimates of $14.80 million. equities research analysts forecast that Orion Energy Systems, Inc. will post -0.26 earnings per share for the current fiscal year.
In other news, CEO Michael W. Altschaefl bought 30,000 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The stock was purchased at an average cost of $0.90 per share, for a total transaction of $27,000.00. Following the purchase, the chief executive officer now directly owns 556,076 shares in the company, valued at approximately $500,468.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Scott A. Green bought 29,607 shares of the firm’s stock in a transaction that occurred on Monday, June 18th. The stock was purchased at an average price of $1.05 per share, with a total value of $31,087.35. Following the completion of the purchase, the chief operating officer now owns 504,764 shares in the company, valued at $530,002.20. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 199,457 shares of company stock valued at $188,755. Company insiders own 9.40% of the company’s stock.
Several equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Orion Energy Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. HC Wainwright set a $2.00 target price on shares of Orion Energy Systems and gave the company a “buy” rating in a research note on Wednesday, August 8th. Finally, Roth Capital set a $1.00 target price on shares of Orion Energy Systems and gave the company a “hold” rating in a research note on Tuesday, August 7th.
Orion Energy Systems Company Profile
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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