Orion Energy Systems, Inc. (NASDAQ:OESX) Sees Significant Increase in Short Interest

Orion Energy Systems, Inc. (NASDAQ:OESX) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 58,800 shares, a growth of 23.0% from the August 30th total of 47,800 shares. Based on an average daily trading volume, of 244,500 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.2% of the shares of the stock are short sold.

Orion Energy Systems stock traded up $0.07 during midday trading on Friday, reaching $2.82. 37,416 shares of the company were exchanged, compared to its average volume of 100,550. The company has a market capitalization of $84.94 million, a price-to-earnings ratio of -12.26 and a beta of 2.11. The firm’s 50-day simple moving average is $2.70 and its 200-day simple moving average is $2.38. Orion Energy Systems has a 1 year low of $0.53 and a 1 year high of $3.49. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.08 and a current ratio of 1.51.

Orion Energy Systems (NASDAQ:OESX) last posted its quarterly earnings data on Monday, August 5th. The electronics maker reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.11. The firm had revenue of $42.38 million during the quarter, compared to analysts’ expectations of $26.90 million. Orion Energy Systems had a negative return on equity of 0.07% and a negative net margin of 0.01%. On average, analysts forecast that Orion Energy Systems will post 0.32 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC purchased a new stake in Orion Energy Systems during the 2nd quarter worth about $32,000. Jane Street Group LLC purchased a new stake in Orion Energy Systems in the 2nd quarter valued at about $51,000. Susquehanna International Group LLP purchased a new stake in Orion Energy Systems in the 2nd quarter valued at about $59,000. Bank of New York Mellon Corp grew its holdings in Orion Energy Systems by 41.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 89,342 shares of the electronics maker’s stock valued at $265,000 after buying an additional 26,124 shares during the period. Finally, Bailard Inc. purchased a new stake in Orion Energy Systems in the 2nd quarter valued at about $91,000. Hedge funds and other institutional investors own 34.71% of the company’s stock.

Several research analysts have recently issued reports on the company. B. Riley assumed coverage on Orion Energy Systems in a research note on Wednesday, September 4th. They set a “buy” rating and a $4.00 price target for the company. TheStreet raised Orion Energy Systems from a “d” rating to a “c” rating in a research note on Monday, August 5th. Zacks Investment Research upgraded Orion Energy Systems from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a research report on Thursday, October 3rd. Finally, ValuEngine cut Orion Energy Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Orion Energy Systems has an average rating of “Buy” and an average target price of $3.09.

About Orion Energy Systems

Orion Energy Systems, Inc researches, designs, develops, manufactures, implements, markets, and sells energy management systems for the commercial office and retail, area lighting, and industrial markets in North America. The company operates in three segments: Orion U.S. Markets Division, Orion Engineered Systems Division, and Orion Distribution Services Division.

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