Acadian Asset Management LLC Sells 145,499 Shares of Orion Energy Systems, Inc. (NASDAQ:OESX)

Acadian Asset Management LLC lowered its position in Orion Energy Systems, Inc. (NASDAQ:OESX) by 16.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 744,433 shares of the electronics maker’s stock after selling 145,499 shares during the quarter. Acadian Asset Management LLC’s holdings in Orion Energy Systems were worth $5,635,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Orion Energy Systems by 31.0% in the 3rd quarter. BlackRock Inc. now owns 1,624,687 shares of the electronics maker’s stock worth $12,300,000 after buying an additional 384,122 shares during the period. Penbrook Management LLC boosted its holdings in Orion Energy Systems by 6.2% in the 3rd quarter. Penbrook Management LLC now owns 375,960 shares of the electronics maker’s stock worth $2,846,000 after buying an additional 22,000 shares during the period. Cadence Capital Management LLC boosted its holdings in Orion Energy Systems by 4.3% in the 2nd quarter. Cadence Capital Management LLC now owns 261,000 shares of the electronics maker’s stock worth $903,000 after buying an additional 10,873 shares during the period. Wells Fargo & Company MN boosted its holdings in Orion Energy Systems by 99.7% in the 3rd quarter. Wells Fargo & Company MN now owns 254,113 shares of the electronics maker’s stock worth $1,923,000 after buying an additional 126,842 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Orion Energy Systems by 45.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 190,741 shares of the electronics maker’s stock worth $660,000 after buying an additional 59,993 shares during the period. 51.52% of the stock is owned by institutional investors.

OESX has been the subject of several recent analyst reports. TheStreet raised shares of Orion Energy Systems from a “c” rating to a “b-” rating in a report on Wednesday, November 11th. ValuEngine downgraded shares of Orion Energy Systems from a “buy” rating to a “hold” rating in a report on Friday, November 13th. B. Riley increased their price objective on shares of Orion Energy Systems from $6.50 to $9.25 in a report on Thursday, October 22nd. HC Wainwright increased their price objective on shares of Orion Energy Systems from $7.00 to $12.00 and gave the company a “buy” rating in a report on Friday, November 6th. Finally, BidaskClub raised shares of Orion Energy Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 18th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Orion Energy Systems has a consensus rating of “Buy” and an average target price of $8.50.

In other news, Director Michael J. Potts sold 9,000 shares of the stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $8.13, for a total transaction of $73,170.00. Following the transaction, the director now directly owns 673,422 shares in the company, valued at $5,474,920.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael J. Potts sold 6,934 shares of the stock in a transaction that occurred on Monday, November 16th. The shares were sold at an average price of $8.10, for a total transaction of $56,165.40. 8.80% of the stock is currently owned by company insiders.

NASDAQ OESX opened at $8.89 on Friday. The firm’s 50 day moving average price is $7.70 and its 200-day moving average price is $5.61. Orion Energy Systems, Inc. has a 52-week low of $2.70 and a 52-week high of $9.30. The company has a market cap of $273.07 million, a PE ratio of 222.31 and a beta of 2.36.

Orion Energy Systems (NASDAQ:OESX) last released its quarterly earnings data on Thursday, November 5th. The electronics maker reported $0.06 earnings per share (EPS) for the quarter. Orion Energy Systems had a net margin of 5.26% and a return on equity of 20.84%. As a group, equities research analysts expect that Orion Energy Systems, Inc. will post 0.18 earnings per share for the current year.

Orion Energy Systems Profile

Orion Energy Systems, Inc researches, designs, develops, manufactures, implements, markets, and sells energy management systems for the commercial office and retail, area lighting, and industrial markets in North America. The company operates in three segments: Orion U.S. Markets Division, Orion Engineered Systems Division, and Orion Distribution Services Division.

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Institutional Ownership by Quarter for Orion Energy Systems (NASDAQ:OESX)

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