Orion Energy Systems, Inc. (NASDAQ:OESX) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 109,800 shares, a decrease of 24.0% from the June 30th total of 144,500 shares. Based on an average daily volume of 461,300 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.5% of the shares of the stock are short sold.

In other news, CEO Michael W. Altschaefl acquired 10,000 shares of Orion Energy Systems stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average cost of $2.87 per share, with a total value of $28,700.00. Following the purchase, the chief executive officer now owns 566,076 shares in the company, valued at $1,624,638.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders purchased 18,500 shares of company stock valued at $52,780. 11.90% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Penbrook Management LLC boosted its stake in shares of Orion Energy Systems by 1.2% in the first quarter. Penbrook Management LLC now owns 675,750 shares of the electronics maker’s stock valued at $598,000 after buying an additional 8,300 shares in the last quarter. North Star Investment Management Corp. increased its holdings in Orion Energy Systems by 10.6% in the 2nd quarter. North Star Investment Management Corp. now owns 3,907,869 shares of the electronics maker’s stock valued at $11,606,000 after buying an additional 373,569 shares during the period. Bailard Inc. bought a new stake in Orion Energy Systems in the 2nd quarter valued at $91,000. Hillsdale Investment Management Inc. bought a new stake in Orion Energy Systems in the 2nd quarter valued at $899,000. Finally, Acadian Asset Management LLC bought a new stake in Orion Energy Systems in the 2nd quarter valued at $217,000. Institutional investors and hedge funds own 31.83% of the company’s stock.

Shares of NASDAQ OESX traded up $0.06 during mid-day trading on Tuesday, reaching $3.09. 290,934 shares of the company’s stock were exchanged, compared to its average volume of 328,929. The firm has a market capitalization of $93.38 million, a price-to-earnings ratio of -13.43 and a beta of 2.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.51 and a quick ratio of 1.08. Orion Energy Systems has a 52-week low of $0.53 and a 52-week high of $3.49. The stock’s 50-day moving average is $2.97.

Orion Energy Systems (NASDAQ:OESX) last released its quarterly earnings results on Monday, August 5th. The electronics maker reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.11. The business 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, sell-side analysts forecast that Orion Energy Systems will post 0.3 EPS for the current year.

Several brokerages have issued reports on OESX. ValuEngine upgraded Orion Energy Systems from a “hold” rating to a “buy” rating in a report on Monday, May 20th. TheStreet upgraded Orion Energy Systems from a “d” rating to a “c” rating in a report on Monday, August 5th. Finally, HC Wainwright upped their target price on Orion Energy Systems from $3.75 to $4.50 and gave the company a “buy” rating in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Orion Energy Systems currently has an average rating of “Buy” and a consensus target price of $2.12.

Orion Energy Systems Company Profile

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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