Orion Energy Systems, Inc. (NASDAQ:OESX) Short Interest Down 57.0% in May

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

Orion Energy Systems Stock Performance

NASDAQ OESX traded down $0.10 during trading hours on Friday, hitting $9.35. The company had a trading volume of 33,820 shares, compared to its average volume of 62,707. Orion Energy Systems has a fifty-two week low of $5.50 and a fifty-two week high of $18.64. The company has a quick ratio of 1.03, a current ratio of 1.41 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $9.46 and a 200-day simple moving average of $12.45. The firm has a market cap of $37.96 million, a P/E ratio of -10.16 and a beta of 0.79.

Orion Energy Systems (NASDAQ:OESX) last released its quarterly earnings results on Thursday, June 4th. The electronics maker reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.53). The business had revenue of $25.72 million during the quarter, compared to the consensus estimate of $24.08 million. Orion Energy Systems had a negative return on equity of 11.81% and a negative net margin of 3.66%. Equities analysts predict that Orion Energy Systems will post 0.25 EPS for the current year.

Wall Street Analyst Weigh In

OESX has been the subject of several research analyst reports. Weiss Ratings cut Orion Energy Systems from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 14th. Wall Street Zen cut Orion Energy Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OESX. Quadrature Capital Ltd bought a new position in Orion Energy Systems during the fourth quarter valued at about $202,000. NewEdge Advisors LLC boosted its position in shares of Orion Energy Systems by 60.1% in the 1st quarter. NewEdge Advisors LLC now owns 24,140 shares of the electronics maker’s stock valued at $211,000 after purchasing an additional 9,058 shares during the period. Marshall Wace LLP acquired a new position in shares of Orion Energy Systems in the 4th quarter valued at $706,000. Sei Investments Co. boosted its position in shares of Orion Energy Systems by 114.3% in the 1st quarter. Sei Investments Co. now owns 130,101 shares of the electronics maker’s stock valued at $1,137,000 after purchasing an additional 69,387 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Orion Energy Systems by 32.4% in the 1st quarter. Renaissance Technologies LLC now owns 178,469 shares of the electronics maker’s stock valued at $1,560,000 after purchasing an additional 43,693 shares during the period. Institutional investors own 52.59% of the company’s stock.

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.