Short Interest in Orion Energy Systems, Inc. (NASDAQ:OESX) Grows By 19.4%

Orion Energy Systems, Inc. (NASDAQ:OESX) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 94,600 shares, an increase of 19.4% from the February 13th total of 79,200 shares. Based on an average daily trading volume, of 78,400 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.3% of the company’s stock are short sold.

Analysts Set New Price Targets

Several brokerages recently commented on OESX. HC Wainwright reissued a “buy” rating and issued a $3.00 price target on shares of Orion Energy Systems in a research note on Wednesday, February 12th. StockNews.com started coverage on Orion Energy Systems in a research report on Wednesday. They set a “hold” rating for the company.

Orion Energy Systems Stock Performance

Shares of OESX stock traded up $0.02 during trading hours on Thursday, reaching $0.75. 23,270 shares of the company’s stock were exchanged, compared to its average volume of 59,775. Orion Energy Systems has a fifty-two week low of $0.68 and a fifty-two week high of $1.53. The stock has a market capitalization of $24.71 million, a P/E ratio of -3.26 and a beta of 1.39. The business has a fifty day moving average price of $0.82 and a 200-day moving average price of $0.85. The company has a quick ratio of 0.89, a current ratio of 1.40 and a debt-to-equity ratio of 0.73.

Orion Energy Systems (NASDAQ:OESX) last issued its quarterly earnings results on Tuesday, February 11th. The electronics maker reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Orion Energy Systems had a negative return on equity of 48.85% and a negative net margin of 8.54%. Analysts predict that Orion Energy Systems will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Orion Energy Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Orion Energy Systems by 9.0% in the 3rd quarter. Geode Capital Management LLC now owns 312,127 shares of the electronics maker’s stock worth $268,000 after acquiring an additional 25,816 shares during the period. Grace & White Inc. NY raised its stake in shares of Orion Energy Systems by 1.9% in the fourth quarter. Grace & White Inc. NY now owns 2,745,544 shares of the electronics maker’s stock valued at $2,197,000 after purchasing an additional 50,138 shares in the last quarter. Mariner LLC acquired a new position in shares of Orion Energy Systems in the fourth quarter valued at $35,000. Finally, Tieton Capital Management LLC lifted its position in Orion Energy Systems by 25.6% in the fourth quarter. Tieton Capital Management LLC now owns 2,661,853 shares of the electronics maker’s stock worth $2,130,000 after purchasing an additional 541,773 shares during the period. 52.59% of the stock is currently owned by institutional investors.

Orion Energy Systems Company Profile

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).