Short Interest in Orion Energy Systems, Inc. (NASDAQ:OESX) Drops By 40.2%

Orion Energy Systems, Inc. (NASDAQ:OESX) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 56,600 shares, a drop of 40.2% from the February 28th total of 94,600 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 69,200 shares, the short-interest ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on OESX shares. HC Wainwright reissued a “buy” rating and set a $3.00 target price on shares of Orion Energy Systems in a research report on Wednesday, February 12th. StockNews.com began coverage on Orion Energy Systems in a research report on Thursday. They issued a “hold” rating for the company.

Hedge Funds Weigh In On Orion Energy Systems

A number of hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its position in Orion Energy Systems by 9.0% during the 3rd quarter. Geode Capital Management LLC now owns 312,127 shares of the electronics maker’s stock valued at $268,000 after purchasing an additional 25,816 shares during the last quarter. Mariner LLC bought a new stake in shares of Orion Energy Systems in the 4th quarter worth approximately $35,000. Grace & White Inc. NY increased its stake in shares of Orion Energy Systems by 1.9% during 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 buying an additional 50,138 shares during the period. Finally, Tieton Capital Management LLC raised its holdings in shares of Orion Energy Systems by 25.6% during the fourth quarter. Tieton Capital Management LLC now owns 2,661,853 shares of the electronics maker’s stock valued at $2,130,000 after acquiring an additional 541,773 shares in the last quarter. Hedge funds and other institutional investors own 52.59% of the company’s stock.

Orion Energy Systems Stock Performance

NASDAQ:OESX opened at $0.76 on Monday. Orion Energy Systems has a 1-year low of $0.68 and a 1-year high of $1.53. The company has a market capitalization of $24.91 million, a price-to-earnings ratio of -3.29 and a beta of 1.39. The business has a 50 day moving average of $0.81 and a 200 day moving average of $0.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.40 and a quick ratio of 0.89.

Orion Energy Systems (NASDAQ:OESX) last released its quarterly earnings data on Tuesday, February 11th. The electronics maker reported ($0.05) EPS for the quarter, topping the consensus estimate 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%. On average, sell-side analysts predict that Orion Energy Systems will post -0.32 earnings per share for the current fiscal year.

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).