Orion Energy Systems, Inc. (NASDAQ:OESX) Short Interest Down 40.2% in March

Orion Energy Systems, Inc. (NASDAQ:OESX) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 56,600 shares, a drop of 40.2% from the February 28th total of 94,600 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 69,200 shares, the short-interest ratio is presently 0.8 days.

Institutional Trading of Orion Energy Systems

Several hedge funds have recently made changes to their positions in OESX. Tieton Capital Management LLC increased its stake in Orion Energy Systems by 25.6% during the fourth quarter. Tieton Capital Management LLC now owns 2,661,853 shares of the electronics maker’s stock worth $2,130,000 after acquiring an additional 541,773 shares during the last quarter. Grace & White Inc. NY boosted its holdings in shares of Orion Energy Systems by 1.9% in the 4th quarter. Grace & White Inc. NY now owns 2,745,544 shares of the electronics maker’s stock worth $2,197,000 after purchasing an additional 50,138 shares during the period. Mariner LLC bought a new position in shares of Orion Energy Systems during the 4th quarter valued at approximately $35,000. Finally, Geode Capital Management LLC raised its holdings in Orion Energy Systems by 9.0% during the 3rd quarter. Geode Capital Management LLC now owns 312,127 shares of the electronics maker’s stock valued at $268,000 after buying an additional 25,816 shares during the period. 52.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on OESX shares. StockNews.com began coverage on shares of Orion Energy Systems in a research report on Thursday. They set a “hold” rating for the company. HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of Orion Energy Systems in a research report on Wednesday, February 12th.

Orion Energy Systems Price Performance

NASDAQ:OESX traded down $0.00 during trading hours on Friday, reaching $0.76. The stock had a trading volume of 47,503 shares, compared to its average volume of 60,267. The stock has a market capitalization of $24.91 million, a PE ratio of -3.29 and a beta of 1.39. Orion Energy Systems has a 52 week low of $0.68 and a 52 week high of $1.53. The company has a 50 day moving average price of $0.81 and a two-hundred day moving average price of $0.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.40.

Orion Energy Systems (NASDAQ:OESX) last announced its quarterly earnings results on Tuesday, February 11th. The electronics maker reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. Orion Energy Systems had a negative net margin of 8.54% and a negative return on equity of 48.85%. As a group, sell-side analysts anticipate that Orion Energy Systems will post -0.32 earnings per share for the current fiscal year.

About Orion Energy Systems

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).