Orion Energy Systems, Inc. (NASDAQ:OESX) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totalling 181,600 shares, a decrease of 23.0% from the May 30th total of 235,800 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average daily volume of 409,800 shares, the short-interest ratio is presently 0.4 days.
Shares of Orion Energy Systems stock traded up $0.04 on Friday, reaching $2.89. 125,684 shares of the company traded hands, compared to its average volume of 311,783. Orion Energy Systems has a 52 week low of $0.53 and a 52 week high of $3.18. The business has a 50 day moving average of $2.67. The stock has a market cap of $85.60 million, a price-to-earnings ratio of -12.57 and a beta of 1.99. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.52.
Orion Energy Systems (NASDAQ:OESX) last released its earnings results on Tuesday, June 4th. The electronics maker reported ($0.03) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.03). Orion Energy Systems had a negative net margin of 10.15% and a negative return on equity of 34.63%. The firm had revenue of $22.44 million during the quarter, compared to the consensus estimate of $18.70 million. Equities research analysts predict that Orion Energy Systems will post 0.29 EPS for the current year.
In other news, CEO Michael W. Altschaefl acquired 10,000 shares of Orion Energy Systems stock in a transaction on Friday, June 7th. The stock was acquired at an average cost of $2.87 per share, with a total value of $28,700.00. Following the transaction, the chief executive officer now owns 566,076 shares of the company’s stock, valued at approximately $1,624,638.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired a total of 18,500 shares of company stock valued at $52,780 over the last ninety days. 11.90% of the stock is currently owned by insiders.
A hedge fund recently raised its stake in Orion Energy Systems stock. Penbrook Management LLC raised its position in Orion Energy Systems, Inc. (NASDAQ:OESX) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 675,750 shares of the electronics maker’s stock after acquiring an additional 8,300 shares during the period. Penbrook Management LLC owned about 2.28% of Orion Energy Systems worth $598,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 34.19% of the company’s stock.
A number of research firms have recently weighed in on OESX. Craig Hallum raised shares of Orion Energy Systems from a “hold” rating to a “buy” rating in a research report on Thursday, April 4th. Roth Capital raised shares of Orion Energy Systems from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 3rd. HC Wainwright reissued a “buy” rating on shares of Zomedica Pharmaceuticals in a research report on Wednesday, June 5th. Finally, ValuEngine downgraded shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $2.12.
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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