Orion Energy Systems, Inc. (NASDAQ:OESX) Sees Large Increase in Short Interest

Orion Energy Systems, Inc. (NASDAQ:OESX) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totaling 85,512 shares, a growth of 105.4% from the March 15th total of 41,639 shares. Currently, 2.2% of the company’s stock are short sold. Based on an average daily volume of 35,356 shares, the days-to-cover ratio is currently 2.4 days.

Hedge Funds Weigh In On Orion Energy Systems

A number of institutional investors have recently modified their holdings of OESX. North Star Investment Management Corp. increased its holdings in shares of Orion Energy Systems by 6.3% in the 4th quarter. North Star Investment Management Corp. now owns 407,452 shares of the electronics maker’s stock valued at $6,267,000 after acquiring an additional 23,998 shares during the period. Tieton Capital Management LLC increased its holdings in shares of Orion Energy Systems by 0.6% in the 4th quarter. Tieton Capital Management LLC now owns 256,194 shares of the electronics maker’s stock valued at $3,940,000 after acquiring an additional 1,580 shares during the period. Marshall Wace LLP acquired a new position in shares of Orion Energy Systems in the 4th quarter valued at $706,000. Quadrature Capital Ltd acquired a new position in shares of Orion Energy Systems in the 4th quarter valued at $202,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Orion Energy Systems in the 4th quarter valued at $232,000. 52.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OESX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orion Energy Systems in a report on Wednesday, April 8th. Zacks Research cut shares of Orion Energy Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Orion Energy Systems currently has a consensus rating of “Hold” and an average target price of $17.50.

Orion Energy Systems Stock Up 1.9%

Shares of NASDAQ:OESX traded up $0.18 during trading on Tuesday, hitting $9.50. 46,018 shares of the company were exchanged, compared to its average volume of 51,945. The stock has a market capitalization of $38.48 million, a P/E ratio of -6.64 and a beta of 0.73. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.35 and a quick ratio of 0.95. Orion Energy Systems has a 12-month low of $5.50 and a 12-month high of $18.64. The firm’s 50 day moving average price is $10.96 and its 200-day moving average price is $12.72.

Orion Energy Systems (NASDAQ:OESX) last issued its quarterly earnings data on Thursday, February 5th. The electronics maker reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.22. The business had revenue of $21.09 million during the quarter, compared to the consensus estimate of $20.81 million. Orion Energy Systems had a negative net margin of 5.62% and a negative return on equity of 31.62%. On average, research analysts predict that Orion Energy Systems will post -0.32 earnings per share for the current fiscal year.

About Orion Energy Systems

Orion Energy Systems, Inc is a U.S.-based provider of energy-efficient lighting and building controls solutions. Founded in 1996 and headquartered in Manitowoc, Wisconsin, the company specializes in designing, manufacturing and deploying LED lighting fixtures and integrated energy management systems for commercial and industrial customers.

The company’s product portfolio includes a range of LED light fixtures, smart sensors, networked controls and cloud-based energy management software.