Orion Energy Systems, Inc. (NASDAQ:OESX) Stock Short Interest Climbs 52.0%

Orion Energy Systems, Inc. (NASDAQ:OESX) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 168,300 shares, a growth of 52.0% from the August 31st total of 110,735 shares. Based on an average daily volume of 99,685 shares, the days-to-cover ratio is presently 1.7 days. Currently, 4.3% of the shares of the company are short sold.

Analyst Ratings Changes

Several brokerages have weighed in on OESX. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Orion Energy Systems in a research report on Thursday, August 6th. Weiss Ratings upgraded Orion Energy Systems from a “sell (d-)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Wall Street Zen upgraded shares of Orion Energy Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Zacks Research lowered Orion Energy Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $43.00 price target on shares of Orion Energy Systems in a research report on Tuesday, September 15th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Orion Energy Systems has a consensus rating of “Hold” and a consensus price target of $36.50.

Orion Energy Systems Stock Up 1.5%

OESX stock opened at $31.20 on Friday. The business’s 50 day moving average price is $22.17 and its two-hundred day moving average price is $14.14. Orion Energy Systems has a fifty-two week low of $7.84 and a fifty-two week high of $31.65. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 1.54. The company has a market capitalization of $127.61 million, a price-to-earnings ratio of -624.00 and a beta of 0.86.

Orion Energy Systems (NASDAQ:OESX) last posted its earnings results on Wednesday, August 5th. The electronics maker reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.40. Orion Energy Systems had a net margin of 0.04% and a return on equity of 11.66%. The firm had revenue of $25.74 million during the quarter, compared to analyst estimates of $23.56 million. As a group, analysts forecast that Orion Energy Systems will post 0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orion Energy Systems

Several large investors have recently added to or reduced their stakes in OESX. NewEdge Advisors LLC boosted its stake in Orion Energy Systems by 60.1% during the 1st quarter. NewEdge Advisors LLC now owns 24,140 shares of the electronics maker’s stock worth $211,000 after acquiring an additional 9,058 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Orion Energy Systems by 114.3% in the 1st quarter. Sei Investments Co. now owns 130,101 shares of the electronics maker’s stock valued at $1,137,000 after purchasing an additional 69,387 shares during the last quarter. Renaissance Technologies LLC grew its position in Orion Energy Systems by 32.4% in the 1st quarter. Renaissance Technologies LLC now owns 178,469 shares of the electronics maker’s stock valued at $1,560,000 after purchasing an additional 43,693 shares during the period. Grace & White Inc. NY grew its stake in Orion Energy Systems by 9.2% in the 1st quarter. Grace & White Inc. NY now owns 241,387 shares of the electronics maker’s stock valued at $2,110,000 after purchasing an additional 20,400 shares during the period. Finally, Tieton Capital Management LLC bought a new position in shares of Orion Energy Systems in the second quarter worth $3,326,000. 52.59% of the stock is currently owned by institutional investors.

About Orion Energy Systems

Orion Energy Systems, Inc (NASDAQ: OESX) provides energy-efficiency solutions for commercial and industrial facilities. The company focuses on helping organizations reduce energy consumption, improve lighting quality and manage building operations through modern lighting and control technologies.

Its offerings include LED lighting fixtures and retrofit systems, connected lighting controls, and related energy-management solutions. Orion also provides design, engineering, installation and project-management services intended to support customers through the transition from traditional lighting systems to more efficient, digitally enabled infrastructure.

Founded in 1996 and headquartered in Manitowoc, Wisconsin, Orion serves customers primarily in the United States across sectors such as manufacturing, warehousing, distribution, retail and other large commercial facilities.