In a report released today, Amit Dayal from H.C. Wainwright maintained a Buy rating on Orion Energy Systems (OESX – Research Report), with a price target of $7.00. The company’s shares closed yesterday at $1.71.
According to TipRanks, Dayal is a top 100 analyst with an average return of 41.0% and a 44.40% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Broadwind Energy, Ceco Environmental, and Westport Fuel Systems.
Currently, the analyst consensus on Orion Energy Systems is a Moderate Buy with an average price target of $5.00, implying a 192.40% upside from current levels. In a report released on January 24, Craig-Hallum also maintained a Buy rating on the stock with a $3.00 price target.
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Based on Orion Energy Systems’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $17.56 million and a GAAP net loss of $2.33 million. In comparison, last year the company earned a revenue of $36.51 million and had a net profit of $3.66 million
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OESX in relation to earlier this year.
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Orion Energy Systems, Inc. engages in the design, development, and trade of lighting systems, and retrofit lighting solutions. It operates through the following segments: U.S. Markets (USM); Orion Engineered Systems (OES), and Orion Distribution Services (ODS). The U.S. Markets segment produces, and sells commercial lighting, and energy management systems to the wholesale contractors. The Engineered Systems segment develops, and sells lighting products, and provides construction, and engineering services for commercial lighting, and energy management systems.The Distribution Services segment markets lighting products to agencies and distributors. The company was founded in April 1996 and is headquartered in Manitowoc, WI.
Read More on OESX:
- Orion Energy sees Q3 revenue approximately $20M, consensus $25.32M
- Orion Energy Systems Previews Preliminary FY 2023 Q3 Results, Updates FY 2023 Revenue Outlook and Provides Initial FY 2024 Revenue Growth Rate Expectation
- Orion Energy adds Ken Poole as EVP, sales
- Orion Energy Systems Adds Sales Leader Ken Poole as EVP of Sales
- Orion Energy appoints McDulin to board of directors