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

Orion Energy Systems, Inc. (NASDAQ:OESX) saw a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 56,600 shares, a decline of 40.2% from the February 28th total of 94,600 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 69,200 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Trading of Orion Energy Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in 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 valued at $268,000 after acquiring an additional 25,816 shares in the last quarter. Tieton Capital Management LLC grew its position in Orion Energy Systems by 25.6% during the 4th quarter. Tieton Capital Management LLC now owns 2,661,853 shares of the electronics maker’s stock worth $2,130,000 after acquiring an additional 541,773 shares during the last quarter. Grace & White Inc. NY increased its position in Orion Energy Systems by 1.9% in the 4th quarter. Grace & White Inc. NY now owns 2,745,544 shares of the electronics maker’s stock valued at $2,197,000 after acquiring an additional 50,138 shares during the period. Finally, Mariner LLC bought a new position in shares of Orion Energy Systems during the fourth quarter worth about $35,000. Institutional investors own 52.59% of the company’s stock.

Orion Energy Systems Stock Performance

Shares of OESX stock opened at $0.76 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.40. Orion Energy Systems has a 52 week low of $0.68 and a 52 week high of $1.53. The company’s 50 day moving average price is $0.81 and its two-hundred day moving average price is $0.84. The company has a market capitalization of $24.91 million, a P/E ratio of -3.29 and a beta of 1.39.

Orion Energy Systems (NASDAQ:OESX) last announced its earnings results 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 net margin of 8.54% and a negative return on equity of 48.85%. On average, analysts expect that Orion Energy Systems will post -0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OESX has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price objective on shares of Orion Energy Systems in a report on Wednesday, February 12th. StockNews.com initiated coverage on Orion Energy Systems in a research note on Thursday. They set a “hold” rating for the company.

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).