Orion Energy Systems, Inc. (NASDAQ:OESX) Short Interest Up 101.9% in August

Orion Energy Systems, Inc. (NASDAQ:OESX) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totaling 110,735 shares, an increase of 101.9% from the August 15th total of 54,844 shares. Currently, 2.9% of the company’s stock are short sold. Based on an average trading volume of 101,216 shares, the days-to-cover ratio is presently 1.1 days.

Wall Street Analyst Weigh In

OESX has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Orion Energy Systems in a research report on Thursday, August 6th. Craig Hallum reaffirmed a “buy” rating and set a $43.00 price objective on shares of Orion Energy Systems in a research report on Tuesday. Weiss Ratings upgraded shares of Orion Energy Systems from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 19th. Zacks Research lowered Orion Energy Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. Finally, Wall Street Zen upgraded Orion Energy Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Orion Energy Systems currently has an average rating of “Hold” and a consensus target price of $36.50.

Orion Energy Systems Stock Performance

NASDAQ OESX traded up $1.04 during trading hours on Wednesday, hitting $27.95. The company had a trading volume of 24,682 shares, compared to its average volume of 61,922. The business has a 50 day moving average of $17.69 and a 200-day moving average of $12.58. The company has a market cap of $114.29 million, a PE ratio of -559.00 and a beta of 0.96. Orion Energy Systems has a 1-year low of $7.84 and a 1-year high of $31.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 1.54.

Orion Energy Systems (NASDAQ:OESX) last posted its earnings results on Wednesday, August 5th. The electronics maker reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.40. The business had revenue of $25.74 million during the quarter, compared to the consensus estimate of $23.56 million. Orion Energy Systems had a return on equity of 11.66% and a net margin of 0.04%. As a group, equities research analysts expect that Orion Energy Systems will post 0.23 EPS for the current year.

Institutional Investors Weigh In On Orion Energy Systems

Large investors have recently modified their holdings of the company. Sei Investments Co. increased its holdings in shares of Orion Energy Systems by 114.3% in the 1st quarter. Sei Investments Co. now owns 130,101 shares of the electronics maker’s stock valued at $1,137,000 after acquiring an additional 69,387 shares during the period. North Star Investment Management Corp. increased its position in Orion Energy Systems by 29.0% in the 1st quarter. North Star Investment Management Corp. now owns 525,552 shares of the electronics maker’s stock valued at $4,593,000 after acquiring an additional 118,100 shares during the period. Tieton Capital Management LLC acquired a new position in Orion Energy Systems in the 2nd quarter valued at about $3,326,000. Renaissance Technologies LLC raised its stake in Orion Energy Systems by 32.4% during the 1st quarter. Renaissance Technologies LLC now owns 178,469 shares of the electronics maker’s stock valued at $1,560,000 after acquiring an additional 43,693 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in Orion Energy Systems by 60.1% during the 1st quarter. NewEdge Advisors LLC now owns 24,140 shares of the electronics maker’s stock valued at $211,000 after acquiring an additional 9,058 shares during the last quarter. 52.59% of the stock is owned by institutional investors and hedge funds.

About Orion Energy Systems

Orion Energy Systems, Inc (NASDAQ: OESX) provides energy-efficiency solutions for commercial and industrial facilities. The company focuses on helping organizations reduce energy consumption, improve lighting quality and manage building operations through modern lighting and control technologies.

Its offerings include LED lighting fixtures and retrofit systems, connected lighting controls, and related energy-management solutions. Orion also provides design, engineering, installation and project-management services intended to support customers through the transition from traditional lighting systems to more efficient, digitally enabled infrastructure.

Founded in 1996 and headquartered in Manitowoc, Wisconsin, Orion serves customers primarily in the United States across sectors such as manufacturing, warehousing, distribution, retail and other large commercial facilities.