OESX - Orion Energy Systems: Value Play With Improving Fundamentals
Having covered Orion Energy Systems (OESX) since 2015, it has proved to be an unprofitable long-term investment. In spite of an extended period of underperformance, the company has survived a difficult and expensive transition to LED lighting, entailing a total reconfiguration of the company's product line and distribution system. While the vast majority of stocks trading near $1.00 represent broken businesses that should be avoided, Orion offers a viable business that is positioned well for future growth, as will be illustrated further.
Current market fundamentals
Since early in the decade, LED lighting has