Orion Energy Systems (OESX) is Initiated by Rodman & Renshaw to Buy, Price Target at $2.50

Orion Energy Systems (OESX) was Initiated by Rodman & Renshaw to “Buy” and the brokerage firm has set the Price Target at $2.50. Rodman & Renshaw advised their investors in a research report released on Jul 18, 2016.

On the company’s financial health, Orion Energy Systems reported $-0.11 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jun 2, 2016. Analyst had a consensus of $-0.09. The company had revenue of $18.58 million for the quarter, compared to analysts expectations of $19.35 million. The company’s revenue was down -4.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.19 EPS.

Orion Energy Systems opened for trading at $1.18 and hit $1.21 on the upside on Friday, eventually ending the session at $1.2, with a gain of 0.84% or 0.01 points. The heightened volatility saw the trading volume jump to 88,087 shares. Company has a market cap of $34 M.

In a different news, on Jun 14, 2016, William T Hull (CFO) purchased 93,500 shares at $1.28 per share price. According to the SEC, on Jun 10, 2016, John H Scribante (Chief Executive Officer) purchased 7,000 shares at $1.37 per share price. On Jun 8, 2016, Anthony L. Otten (director) purchased 1,000 shares at $1.35 per share price, according to the Form-4 filing with the securities and exchange commission.

Orion Energy Systems Inc. is a designer and manufacturer of energy efficient lighting platforms. The Company researches develops designs manufactures markets and implements energy management systems consisting of energy efficient commercial and industrial interior and exterior lighting systems and related services. The Company operates in three segments: U.S. Markets Engineered Systems and Distribution Services. The U.S. Markets division focuses on selling lighting solutions into the wholesale markets including domestic energy service companies (ESCOs) and electrical contractors. The Orion Engineered Systems focuses on selling lighting products and construction and engineering services direct to end users. Its products include The LED Door Retrofit (LDR) Interior LED High Bay Fixtures Exterior LED Fixtures The Compact Modular InteLite Dynamic Control Device Apollo Solar Light Pipe and others products. Its customers are national accounts Government municipal and schools.

Orion Energy Systems

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