North Star Amends Orion Energy Stake, Signals Ownership Change

TL;DR

**North Star just updated its stake in Orion Energy, watch for potential market reaction.**

AI Summary

North Star Investment Management Corp. filed an Amendment No. 8 to its SC 13G filing on January 10, 2024, indicating its ownership in Orion Energy Systems, Inc. as of December 31, 2023. This update, filed under Rule 13d-1(b), shows a change in their beneficial ownership of Orion Energy Systems' common stock. For investors, this matters because North Star is a significant institutional holder, and changes in their position can signal their confidence (or lack thereof) in the company's future prospects, potentially influencing other investors.

Why It Matters

Changes in institutional ownership can influence stock price and reflect a major investor's updated view on the company's value or future performance.

Risk Assessment

Risk Level: low — This filing is a routine update on institutional ownership and does not inherently signal high risk, though the underlying change in ownership could be a factor.

Analyst Insight

An investor should monitor subsequent filings from North Star Investment Management Corp. to track their ongoing position in Orion Energy Systems, Inc. and research any news or company performance updates around the December 31, 2023, date that might explain the change in ownership.

Key Players & Entities

• North Star Investment Management Corp. (company) — the entity filing the SC 13G/A amendment
• Orion Energy Systems, Inc. (company) — the subject company whose securities are being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• January 10, 2024 (date) — the filing date of the SC 13G/A
• Amendment No. 8 (number) — the specific amendment number to the SC 13G filing
• Delaware (company) — place of organization for North Star Investment Management Corporation

FAQ

Filing Documents

• formsc13ga.htm (SC 13G/A) — 28KB
• 0001062993-24-000767.txt ( ) — 30KB

Ownership

Item 4. Ownership The information reported below in this Item 4 is as of December 31, 2023. The percentage set forth in Item 4(b) is based on 32,512,221 shares of the Issuer's Common Stock outstanding as of October 31, 2023, as reported in the Issuer's Form 10-Q for the quarter ended September 30, 2023 (as filed November 9, 2023). (a) Amount Beneficially Owned: 3,813,702 (b) Percent of Class: 11.73% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: 1,925,000 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 1,925,000 (iv) Shared power to dispose or to direct the disposition of: 1,888,702

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class. Not Applicable.

Ownership of more than Five Percent on Behalf of Another Person

Item 6. Ownership of more than Five Percent on Behalf of Another Person. Not Applicable. Item 7. Identification and classification of the subsidiary which acquired the security being reported on by the parent holding company or control person. Not Applicable.

Identification and classification of members of the group

Item 8. Identification and classification of members of the group. Not Applicable.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. Not Applicable.

Certifications

Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having the purposes or effect, other than activities solely in connection with nomination under 240.14a-11. Page 4 of 5 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: January 10, 2024 NORTH STAR INVESTMENT MANAGEMENT CORPORATION /s/ Andrew Eisenberg Andrew Eisenberg/Chief Compliance Officer The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative (other than an executive officer or general partner of this filing person), evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature. Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001). Page 5 of 5

View Full Filing

View this SC 13G/A filing on SEC EDGAR