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Michael H. Jenkins, the Chief Executive Officer of Orion Energy Systems, Inc. (NASDAQ:OESX), recently purchased 5,682 shares of the company’s common stock. According to InvestingPro data, this purchase comes as the company trades near its 52-week low of $0.68, with the stock down about 8% over the past year. The transaction, which took place on February 25, 2025, was executed at a price of $0.8798 per share, amounting to a total investment of $4,999. Following this acquisition, Jenkins now holds a total of 1,246,254 shares directly. This move reflects the CEO’s continued commitment to the company, which is based in Manitowoc, Wisconsin. The company currently operates with a moderate debt level and shows a current ratio of 1.4. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with analysts setting price targets between $2.00 and $3.00 per share. Get access to 5 more exclusive InvestingPro Tips and comprehensive analysis in the Pro Research Report.
In other recent news, Orion Energy Systems reported a decline in its third-quarter fiscal year 2025 revenue, which fell to $19.6 million from $26 million the previous year. The company’s earnings per share (EPS) met expectations at a loss of $0.05, while their gross margin improved by 490 basis points to 29.4%. Despite the revenue decline, Orion anticipates double-digit revenue growth in fiscal year 2026. In another development, Orion Energy Systems has initiated a $3 million LED lighting project for a federal agency in the Southeastern United States, which is expected to be completed in the first half of fiscal year 2026. This project follows a $9.6 million LED retrofit for the Department of Defense in Europe. Additionally, Orion has announced a restructuring of its business units to enhance customer service and streamline operations, aiming for further cost reductions. The company continues to focus on expanding its LED lighting and EV charging solutions, with a pipeline of opportunities valued between $100 million and $200 million over the next five years.
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