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

Orion Energy Systems, Inc. (NASDAQ:OESX) was the target of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 19,584 shares, a decrease of 57.0% from the May 14th total of 45,587 shares. Based on an average daily trading volume, of 59,921 shares, the short-interest ratio is presently 0.3 days. Approximately 0.5% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Weiss Ratings cut shares of Orion Energy Systems from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 14th. Wall Street Zen cut Orion Energy Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.50.

Orion Energy Systems Price Performance

Shares of OESX opened at $9.45 on Friday. The firm has a market capitalization of $38.37 million, a price-to-earnings ratio of -10.27 and a beta of 0.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.03 and a current ratio of 1.41. Orion Energy Systems has a one year low of $5.50 and a one year high of $18.64. The stock’s fifty day moving average is $9.45 and its 200-day moving average is $12.47.

Orion Energy Systems (NASDAQ:OESX) last posted its quarterly earnings data on Thursday, June 4th. The electronics maker reported ($0.39) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.53). The company had revenue of $25.72 million during the quarter, compared to analyst estimates of $24.08 million. Orion Energy Systems had a negative return on equity of 11.81% and a negative net margin of 3.66%. Equities analysts anticipate that Orion Energy Systems will post 0.47 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. North Star Investment Management Corp. increased its stake in shares of Orion Energy Systems by 6.3% during the fourth 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 boosted its stake in Orion Energy Systems by 0.6% during the 4th quarter. Tieton Capital Management LLC now owns 256,194 shares of the electronics maker’s stock valued at $3,940,000 after purchasing an additional 1,580 shares in the last quarter. Marshall Wace LLP bought a new position in Orion Energy Systems during the 4th quarter valued at $706,000. Quadrature Capital Ltd acquired a new position in shares of Orion Energy Systems during the 4th quarter valued at $202,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Orion Energy Systems in the 4th quarter worth $232,000. 52.59% of the stock is currently owned by institutional investors.

Orion Energy Systems Company Profile

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.