Craig-Hallum lowered the firm’s price target on Orion Energy to $2 from $3 and keeps a Buy rating on the shares. Orion Energy preannounced Q3 revenue below Street expectations and guided FY24 revenue below the previous range, the analyst tells investors in a research note. While below expectations, Q3 revenue was still a meaningful step up versus the previous six quarters which sets Orion up for further growth in FY25, the firm adds.
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Read More on OESX:
- LED Lighting, EV Charging and Electrical Maintenance Provider Orion Announces Preliminary Q3’24 Revenue Growing to $25.8M-$26.2M and Improved Cash Position; Updates FY 2024 Anticipated Revenue Outlook to $90M-$95M
- Orion Energy sees Q4 revenue $26M-$31M, consensus $34.24M
- Orion Energy sees 2024 revenue $90M-$95M, consensus $99.94M
- Orion Energy sees Q3 revenue $25.8M-$26.2M, consensus $27.53M
- LED Lighting and EV Charging Solutions Provider Orion to Participate in Virtual Sidoti Microcap Conf. Weds & Thurs, Jan 17-18; Presentation Jan 18th at 10am ET
