Short Interest in Orion Energy Systems, Inc. (NASDAQ:OESX) Drops By 21.3%

Orion Energy Systems, Inc. (NASDAQ:OESX) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 77,300 shares, a decline of 21.3% from the October 15th total of 98,200 shares. Based on an average daily trading volume, of 46,800 shares, the days-to-cover ratio is presently 1.7 days.

Analyst Ratings Changes

OESX has been the subject of several research reports. HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of Orion Energy Systems in a report on Thursday, August 8th. StockNews.com assumed coverage on shares of Orion Energy Systems in a report on Monday. They issued a “hold” rating on the stock.

Orion Energy Systems Price Performance

NASDAQ OESX traded down $0.03 during trading hours on Friday, reaching $0.86. The company’s stock had a trading volume of 15,504 shares, compared to its average volume of 51,402. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.93 and a current ratio of 1.49. The company’s 50-day moving average is $0.90 and its two-hundred day moving average is $0.97. Orion Energy Systems has a fifty-two week low of $0.81 and a fifty-two week high of $1.53. The stock has a market cap of $28.17 million, a PE ratio of -3.42 and a beta of 1.39.

Orion Energy Systems (NASDAQ:OESX) last issued its quarterly earnings data on Wednesday, November 6th. The electronics maker reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). Orion Energy Systems had a negative return on equity of 48.81% and a negative net margin of 8.76%. The company had revenue of $19.36 million for the quarter, compared to analyst estimates of $19.40 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. Analysts forecast that Orion Energy Systems will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Orion Energy Systems

Institutional investors have recently modified their holdings of the company. Grace & White Inc. NY raised its stake in Orion Energy Systems by 1.3% during the third quarter. Grace & White Inc. NY now owns 2,695,406 shares of the electronics maker’s stock worth $2,310,000 after purchasing an additional 33,451 shares during the period. Tieton Capital Management LLC raised its position in shares of Orion Energy Systems by 2.5% in the 2nd quarter. Tieton Capital Management LLC now owns 2,186,931 shares of the electronics maker’s stock worth $2,427,000 after buying an additional 53,789 shares during the period. Finally, North Star Investment Management Corp. boosted its holdings in Orion Energy Systems by 1.2% in the third quarter. North Star Investment Management Corp. now owns 3,933,002 shares of the electronics maker’s stock valued at $3,370,000 after acquiring an additional 47,300 shares during the last quarter. Institutional investors and hedge funds own 52.59% of the company’s stock.

About Orion Energy Systems

Orion Energy Systems, Inc, together with its subsidiaries, researches, designs, develops, manufactures, markets, sells, installs, and implements energy management systems for commercial office and retail, area lighting, industrial applications, and government in North America and Germany. It operates in three segments: Lighting, Maintenance, and Electric Vehicle (EV).