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

Orion Energy Systems, Inc. (NASDAQ:OESX) was the target of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 41,913 shares, an increase of 81.5% from the February 12th total of 23,088 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average trading volume of 33,704 shares, the short-interest ratio is presently 1.2 days. Based on an average trading volume of 33,704 shares, the short-interest ratio is presently 1.2 days. Approximately 1.1% of the shares of the company are sold short.

Orion Energy Systems Stock Down 2.4%

Shares of NASDAQ:OESX opened at $9.70 on Friday. Orion Energy Systems has a fifty-two week low of $5.50 and a fifty-two week high of $18.64. The company has a quick ratio of 0.95, a current ratio of 1.35 and a debt-to-equity ratio of 0.76. The firm’s 50-day simple moving average is $14.15 and its 200-day simple moving average is $12.45. The company has a market cap of $39.29 million, a price-to-earnings ratio of -6.78 and a beta of 0.60.

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

Analyst Ratings Changes

OESX has been the subject of several research reports. Zacks Research downgraded shares of Orion Energy Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Wall Street Zen upgraded shares of Orion Energy Systems to a “strong-buy” rating in a research note on Saturday, December 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orion Energy Systems in a report on Friday, January 9th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.50.

Institutional Trading of Orion Energy Systems

Several hedge funds have recently modified their holdings of OESX. Quadrature Capital Ltd purchased a new stake in shares of Orion Energy Systems in the fourth quarter valued at approximately $202,000. NewEdge Advisors LLC purchased a new position in Orion Energy Systems in the fourth quarter worth $232,000. Marshall Wace LLP purchased a new position in Orion Energy Systems in the fourth quarter worth $706,000. Tieton Capital Management LLC lifted its holdings in Orion Energy Systems by 0.6% in the fourth 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. Finally, North Star Investment Management Corp. boosted its position in shares of Orion Energy Systems by 6.3% during the 4th quarter. North Star Investment Management Corp. now owns 407,452 shares of the electronics maker’s stock worth $6,267,000 after purchasing an additional 23,998 shares in the last quarter. 52.59% of the stock is owned by institutional investors and hedge funds.

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.