Orion Energy Systems, Inc. (NASDAQ:OESX) Short Interest Update

Key Points

• Short interest more than doubled to 110,735 shares as of August 31, up 101.9% from mid-August. Short interest represented 2.9% of outstanding shares, equal to 1.1 days of average trading volume.
• Analyst sentiment was mixed, with ratings ranging from sell to strong buy. The consensus rating was Hold, with a consensus price target of $30.
• Institutional ownership stood at 52.59%, while OESX shares traded at $25.29. The company beat quarterly expectations, reporting $0.47 in EPS versus a $0.07 estimate and revenue of $25.74 million.

Orion Energy Systems, Inc. (NASDAQ:OESX - Get Free Report) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 110,735 shares, an increase of 101.9% from the August 15th total of 54,844 shares. Based on an average daily volume of 101,216 shares, the short-interest ratio is presently 1.1 days. Currently, 2.9% of the company's stock are short sold.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Orion Energy Systems from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Wednesday, August 19th. Zacks Research lowered Orion Energy Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 8th. Wall Street Zen upgraded shares of Orion Energy Systems from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Finally, HC Wainwright restated a "buy" rating and issued a $30.00 target price on shares of Orion Energy Systems in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $30.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. North Star Investment Management Corp. raised its position in Orion Energy Systems by 29.0% in the 1st quarter. North Star Investment Management Corp. now owns 525,552 shares of the electronics maker's stock valued at $4,593,000 after purchasing an additional 118,100 shares during the last quarter. Tieton Capital Management LLC acquired a new position in Orion Energy Systems in the second quarter worth $3,326,000. Grace & White Inc. NY grew its holdings in shares of Orion Energy Systems by 9.2% during the first quarter. Grace & White Inc. NY now owns 241,387 shares of the electronics maker's stock worth $2,110,000 after purchasing an additional 20,400 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Orion Energy Systems by 32.4% in the first quarter. Renaissance Technologies LLC now owns 178,469 shares of the electronics maker's stock valued at $1,560,000 after buying an additional 43,693 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Orion Energy Systems by 114.3% in the first quarter. Sei Investments Co. now owns 130,101 shares of the electronics maker's stock valued at $1,137,000 after buying an additional 69,387 shares in the last quarter. 52.59% of the stock is owned by institutional investors and hedge funds.

Orion Energy Systems Price Performance

Shares of NASDAQ OESX traded down $1.96 during midday trading on Monday, reaching $25.29. 83,762 shares of the company traded hands, compared to its average volume of 62,060. Orion Energy Systems has a 12 month low of $7.84 and a 12 month high of $31.00. 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 stock's 50-day simple moving average is $17.10 and its 200-day simple moving average is $12.38. The firm has a market cap of $103.44 million, a PE ratio of -505.80 and a beta of 0.96.

Orion Energy Systems (NASDAQ:OESX - Get Free Report) last announced its earnings results on Wednesday, August 5th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping 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 business had revenue of $25.74 million during the quarter, compared to analysts' expectations of $23.56 million. As a group, equities analysts anticipate that Orion Energy Systems will post 0.23 earnings per share for the current fiscal year.

Orion Energy Systems Company Profile

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.

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