302,565 Shares in Orion Energy Systems, Inc. (NASDAQ:OESX) Purchased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. purchased a new position in shares of Orion Energy Systems, Inc. (NASDAQ:OESX) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 302,565 shares of the electronics maker’s stock, valued at approximately $899,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OESX. North Star Investment Management Corp. boosted its holdings in Orion Energy Systems by 10.6% in the 2nd quarter. North Star Investment Management Corp. now owns 3,907,869 shares of the electronics maker’s stock valued at $11,606,000 after purchasing an additional 373,569 shares in the last quarter. Penbrook Management LLC boosted its holdings in Orion Energy Systems by 1.2% in the 1st 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 in the last quarter. Finally, Bailard Inc. purchased a new stake in Orion Energy Systems in the 2nd quarter valued at approximately $91,000. 31.83% of the stock is currently owned by hedge funds and other institutional investors.

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

OESX traded down $0.10 during trading on Friday, reaching $2.98. The company’s stock had a trading volume of 151,400 shares, compared to its average volume of 481,514. Orion Energy Systems, Inc. has a 52-week low of $0.53 and a 52-week high of $3.49. The company’s fifty day moving average price is $2.99 and its 200-day moving average price is $1.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.51 and a quick ratio of 1.08.

Orion Energy Systems (NASDAQ:OESX) last announced its quarterly earnings data on Monday, August 5th. The electronics maker reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.11. Orion Energy Systems had a negative return on equity of 0.07% and a negative net margin of 0.01%. The company had revenue of $42.38 million for the quarter, compared to analyst estimates of $26.90 million. Research analysts anticipate that Orion Energy Systems, Inc. will post 0.3 earnings per share for the current year.

A number of equities research analysts have weighed in on OESX shares. Zacks Investment Research lowered Orion Energy Systems from a “buy” rating to a “hold” rating in a report on Wednesday. TheStreet raised Orion Energy Systems from a “d” rating to a “c” rating in a report on Monday, August 5th. ValuEngine raised Orion Energy Systems from a “hold” rating to a “buy” rating in a report on Monday, May 20th. Finally, HC Wainwright lifted their price objective on Orion Energy Systems from $3.75 to $4.50 and gave the company a “buy” rating in a report on Wednesday, June 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company 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: Trade War

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Institutional Ownership by Quarter for Orion Energy Systems (NASDAQ:OESX)

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