North Star Investment Management 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 8.69% to 2.62 million shares with purchase of 0.21 million shares. This fresh investment now brings its stake to 8.18% valued currently at $4.76 million. In addition, Tieton Capital Management LLC raised its holdings by 0.57 million to 2.1 million shares. And Kanen Wealth Management LLC has lifted its position by 0.26% or 4298.0 shares – to 1.67 million shares.
With over 74940.0 Orion Energy Systems Inc. (OESX) shares trading Tuesday and a closing price of $1.66 on the day, the dollar volume was approximately $0.12 million. The shares have shown a negative half year performance of -20.57% and its price on 01/24/23 lost nearly -7.26%. Currently, there are 31.33M common shares owned by the public and among those 29.52M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for OESX have a consensus price objective of $4.00. The analysts have set the share’s price value over the next 12 months at a high of $7.00 and a low of $2.00. The average price target is 61.66% above its recent price level and an upside to the estimated low will see the stock gain 17.0% over that period. But an upside of 76.29% will see the stock hit the forecast high price target while median target price for the stock is $3.00.
Insiders at the company have transacted a total of 23 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 23 of these insider trades were purchases, accounting for 962,953 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Orion Energy Systems Inc. are Northern Lights Fund Trust II – N, Heartland Group Inc. – Value Fund, and Vanguard Total Stock Market Index. Northern Lights Fund Trust II – N owns 0.93 million shares of the company’s stock, all valued at over $1.68 million. The company bought an additional 85000.0 shares recently to bring their total holdings to about 2.89% of the shares outstanding. Heartland Group Inc. – Value Fund bought 25000.0 shares to see its total holdings expand to 0.9 million shares valued at over $1.64 million and representing 2.81% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.39% of the shares outstanding.
Shares of Orion Energy Systems Inc. (NASDAQ: OESX) opened at $1.70, down -$0.09 from a prior closing price of $1.79. However, the script later moved the day high at 1.7327, down -7.26%. The company’s stock has a 5-day price change of -16.16% and 1.84% over the past three months. OESX shares are trading -8.79% year to date (YTD), with the 12-month market performance down to -47.47% lower. It has a 12-month low price of $1.41 and touched a high of $3.42 over the same period. OESX has an average intraday trading volume of 54.37K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -12.02%, -15.28%, and -17.16% respectively.
Institutional ownership of Orion Energy Systems Inc. (NASDAQ: OESX) shares accounts for 49.10% of the company’s 31.33M shares outstanding. Mutual fund holders own 35.35%, while other institutional holders and individual stakeholders account for 37.41% and 14.67% respectively.
It has a market capitalization of $53.14M and a beta (3y monthly) value of 2.04. The earnings-per-share (ttm) stands at -$0.17. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.43% over the week and 4.55% over the month.
Analysts forecast that Orion Energy Systems Inc. (OESX) will achieve an EPS of -$0.07 for the current quarter, -$0.03 for the next quarter and $0.04 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.1 while analysts give the company a high EPS estimate of -$0.04. Comparatively, EPS for the current quarter was $0.12 a year ago. Earnings per share for the fiscal year are expected to decrease by -76.70%, and 100.00% over the next financial year. EPS should grow at an annualized rate of 25.00% over the next five years, compared to 19.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Orion Energy Systems Inc. (OESX) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 1 of the 3 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. B. Riley Securities stated their Neutral rating for the stock in a research note on November 10, 2021, with the firm’s price target at $5-$8.50. ROTH Capital coverage for the Orion Energy Systems Inc. (OESX) stock in a research note released on June 02, 2021 offered a Neutral rating with a price target of $7. B. Riley Securities was of a view on April 15, 2021 that the stock is Buy, while ROTH Capital gave the stock Buy rating on March 16, 2020, issuing a price target of $5- $10. B. Riley FBR on their part issued Buy rating on September 04, 2019.
