A new 9.9% passive stake by a hedge fund manager is notable but explicitly disclaims activist intent. The filing is a neutral signal — no immediate catalyst. Monitor for any future 13D conversion or subsequent filings for escalation.
Price Chart
Executive Summary
Orin Hirschman and his affiliated entities AIGH Capital Management LLC and AIGH Investment Partners LLC filed a new SC 13G disclosing a 9.9% passive stake in Orion Energy Systems, Inc. The filing reports 407,000 shares of common stock as of September 30, 2026. This is a new passive position by a notable hedge fund manager, signaling conviction but with no activist intent disclaimed.
Key Financial Metrics
Key Facts
- Orin Hirschman and affiliates filed a new SC 13G on 2026-10-19
- Reports beneficial ownership of 407,000 shares of common stock (9.9% of shares outstanding)
- Stake is a new passive position under Rule 13d-1(b) with no activist intent
- Filing certifies shares were acquired in ordinary course of business, not for control influence
- Prior OESX passive stakes by North Star and Tieton Capital were previously filed (North Star at ~9.9% in July 2026)
Financial Impact
9.9% passive stake in a small-cap company; no dollar value disclosed
Risk Factors
- Potential future conversion to 13D if Hirschman engages management
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13G Filing (Primary) | 0001493152-26-047547 |
| Document: 0001493152-26-047547-index.html | 0001493152-26-047547 |
| Document: 0001493152-26-047547.txt | 0001493152-26-047547 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 8d ago | SC 13G | $22.80 $19.56 | ▼ −14.21% | ▼ −14.07% | $19.56 (−14.21%) |
Sep 15, 2026 6w ago | 8-K | $26.91 $27.50 | ▲ +2.19% | ▲ +1.38% | $19.56 (−27.31%) |
Aug 5, 2026 11w ago | 8-K | $16.06 $20.59 | ▲ +28.21% | ▲ +27.86% | $19.56 (+21.79%) |
Jun 24, 2026 17w ago | DEFA14A | $9.57 $12.18 | ▲ +27.27% | ▲ +25.57% | $19.56 (+104.39%) |
Jun 4, 2026 20w ago | 8-K | $9.16 $9.46 | ▲ +3.28% | ▲ +5.83% | $19.56 (+113.54%) |
Jun 4, 2026 20w ago | Press Release | $9.16 $9.46 | ▲ +3.28% | ▲ +5.83% | $19.56 (+113.54%) |
May 19, 2026 23w ago | 8-K | $8.78 $10.40 | ▲ +18.45% | ▲ +16.20% | $19.56 (+122.78%) |
May 19, 2026 23w ago | Press Release | $8.78 $10.40 | ▼ −18.45% | ▼ −16.20% | $19.56 (−122.78%) |
Apr 16, 2026 27w ago | 8-K | $9.55 $9.25 | ▼ −3.14% | ▼ −3.70% | $19.56 (+104.82%) |
Apr 15, 2026 27w ago | Press Release | $10.01 $9.50 | ▼ −5.09% | ▼ −6.73% | $19.56 (+95.40%) |
US Market Status
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