H.C. Wainwright Sticks to Its Buy Rating for Orion Energy Systems

By Ryan Adsit

H.C. Wainwright analyst Amit Dayal reiterated a Buy rating on Orion Energy Systems (NYSE MKT: OESX) on May 26. The company’s shares closed last Friday at $1.32.

Dayal said:

“We believe that the reshuffle at OESX has been effected mainly to achieve cost reductions and achieving profitability sooner. The company’s current annual operating expense run rate is at ~$30M level, and with industry gross margin levels of ~35%, we believe that OESX will require (if no changes are made to the current operating structure) topline revenues of at least $85-90M to achieve profitability.”

According to TipRanks.com, Dayal is ranked 0 out of 5 stars with an average return of -14.5% and a 30.0% success rate. Dayal covers the Technology sector, focusing on stocks such as Revolution Lighting Technologies, Superconductor Technologies Inc, and Ascent Solar Technologies.

Orion Energy Systems has an analyst consensus of Moderate Buy, with a price target consensus of $1.40.

The company has a one year high of $2.57 and a one year low of $1.04. Currently, Orion Energy Systems has an average volume of 78.19K.

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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; Engineered Systems; Distribution Services; and Corporate and Other. The U.S. Markets segment produces and sells commercial lighting and energy management systems to the wholesale contractors. The Engineered Systems segment provides construction and engineering services for commercial light-emitting diode and high intensity fluorescent lighting systems. The Distribution Services segment markets lighting products to agencies and distributors. The Corporate and Other segment pertains to the firm’s administrative activities and expenses. The company was founded in April 1996 and is headquartered in Manitowoc, WI.