Orion Energy Systems, Inc. (NASDAQ:OESX) Short Interest Down 21.3% in October

Orion Energy Systems, Inc. (NASDAQ:OESX) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 77,300 shares, a drop of 21.3% from the October 15th total of 98,200 shares. Based on an average daily volume of 46,800 shares, the short-interest ratio is presently 1.7 days.

Orion Energy Systems Trading Down 3.8 %

Orion Energy Systems stock traded down $0.03 during trading hours on Friday, reaching $0.86. 15,504 shares of the company’s stock traded hands, compared to its average volume of 51,402. Orion Energy Systems has a fifty-two week low of $0.81 and a fifty-two week high of $1.53. The firm’s 50 day moving average is $0.90 and its 200-day moving average is $0.97. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.93 and a current ratio of 1.49. The firm has a market capitalization of $28.17 million, a price-to-earnings ratio of -3.42 and a beta of 1.39.

Orion Energy Systems (NASDAQ:OESX) last posted its earnings results on Wednesday, November 6th. The electronics maker reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). Orion Energy Systems had a negative return on equity of 48.81% and a negative net margin of 8.76%. The company had revenue of $19.36 million for the quarter, compared to analyst estimates of $19.40 million. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. On average, analysts predict that Orion Energy Systems will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on OESX shares. HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of Orion Energy Systems in a report on Thursday, August 8th. StockNews.com assumed coverage on Orion Energy Systems in a report on Monday. They issued a “hold” rating for the company.

Hedge Funds Weigh In On Orion Energy Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tieton Capital Management LLC grew its stake in shares of Orion Energy Systems by 2.5% in the second quarter. Tieton Capital Management LLC now owns 2,186,931 shares of the electronics maker’s stock valued at $2,427,000 after buying an additional 53,789 shares in the last quarter. Grace & White Inc. NY raised its holdings in shares of Orion Energy Systems by 1.3% in the 3rd quarter. Grace & White Inc. NY now owns 2,695,406 shares of the electronics maker’s stock valued at $2,310,000 after purchasing an additional 33,451 shares during the period. Finally, North Star Investment Management Corp. lifted its position in shares of Orion Energy Systems by 1.2% in the third quarter. North Star Investment Management Corp. now owns 3,933,002 shares of the electronics maker’s stock valued at $3,370,000 after buying an additional 47,300 shares during the last quarter. 52.59% of the stock is owned by institutional investors and hedge funds.

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).