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

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OESX shares. Weiss Ratings lowered shares of Orion Energy Systems from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 14th. Wall Street Zen downgraded shares of Orion Energy Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Two 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.50.

Orion Energy Systems Stock Performance

Shares of NASDAQ OESX opened at $9.45 on Friday. The stock’s fifty day simple moving average is $9.45 and its 200 day simple moving average is $12.47. The stock 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 quick ratio of 1.03, a current ratio of 1.41 and a debt-to-equity ratio of 0.34. Orion Energy Systems has a 52-week low of $5.50 and a 52-week high of $18.64.

Orion Energy Systems (NASDAQ:OESX) last announced its earnings results on Thursday, June 4th. The electronics maker reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.53). Orion Energy Systems had a negative net margin of 3.66% and a negative return on equity of 11.81%. The company had revenue of $25.72 million for the quarter, compared to analysts’ expectations of $24.08 million. As a group, sell-side analysts forecast that Orion Energy Systems will post 0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new position in shares of Orion Energy Systems in the fourth quarter worth approximately $202,000. NewEdge Advisors LLC purchased a new stake in shares of Orion Energy Systems in the 4th quarter valued at approximately $232,000. Marshall Wace LLP purchased a new stake in shares of Orion Energy Systems in the 4th quarter valued at approximately $706,000. Sei Investments Co. boosted its stake in Orion Energy Systems by 114.3% in the 1st quarter. Sei Investments Co. now owns 130,101 shares of the electronics maker’s stock worth $1,137,000 after purchasing an additional 69,387 shares during the period. Finally, Renaissance Technologies LLC boosted its stake 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 worth $1,560,000 after purchasing an additional 43,693 shares during the period. 52.59% of the stock is currently owned by institutional investors and hedge funds.

About Orion Energy Systems

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.