B. Riley Comments on Orion Group Holdings, Inc.’s Q2 2024 Earnings (NYSE:ORN)

Orion Group Holdings, Inc. (NYSE:ORN) – B. Riley issued their Q2 2024 earnings per share estimates for Orion Group in a research note issued on Friday, April 26th. B. Riley analyst A. Rygiel expects that the construction company will post earnings of $0.01 per share for the quarter. B. Riley currently has a “Buy” rating and a $9.50 price target on the stock. The consensus estimate for Orion Group’s current full-year earnings is $0.20 per share. B. Riley also issued estimates for Orion Group’s Q3 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.11 EPS and FY2025 earnings at $0.21 EPS.

Separately, StockNews.com downgraded Orion Group from a “buy” rating to a “hold” rating in a report on Friday.

Orion Group Trading Up 1.1 %

Shares of NYSE:ORN opened at $7.42 on Monday. Orion Group has a 12-month low of $2.35 and a 12-month high of $9.84. The company has a market capitalization of $240.72 million, a PE ratio of -21.20, a PEG ratio of 1.56 and a beta of 0.70. The business has a 50 day moving average of $7.88 and a two-hundred day moving average of $6.07. The company has a current ratio of 1.33, a quick ratio of 1.25 and a debt-to-equity ratio of 0.36.

Orion Group (NYSE:ORN) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. Orion Group had a negative return on equity of 4.14% and a negative net margin of 1.59%. The company had revenue of $160.67 million during the quarter, compared to the consensus estimate of $174.75 million.

Institutional Trading of Orion Group

Several large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in shares of Orion Group by 806.6% during the first quarter. Assenagon Asset Management S.A. now owns 256,865 shares of the construction company’s stock worth $2,106,000 after purchasing an additional 228,533 shares in the last quarter. G2 Investment Partners Management LLC increased its position in shares of Orion Group by 715.1% during the fourth quarter. G2 Investment Partners Management LLC now owns 481,974 shares of the construction company’s stock worth $2,381,000 after purchasing an additional 422,842 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Orion Group by 2,851.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,448 shares of the construction company’s stock worth $52,000 after purchasing an additional 10,094 shares in the last quarter. Essex Investment Management Co. LLC increased its position in shares of Orion Group by 29.8% during the fourth quarter. Essex Investment Management Co. LLC now owns 368,981 shares of the construction company’s stock worth $1,823,000 after purchasing an additional 84,657 shares in the last quarter. Finally, Boston Partners increased its position in shares of Orion Group by 10.6% during the fourth quarter. Boston Partners now owns 283,655 shares of the construction company’s stock worth $1,401,000 after purchasing an additional 27,164 shares in the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Orion Group news, CEO Travis J. Boone acquired 12,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average cost of $7.01 per share, for a total transaction of $84,120.00. Following the completion of the transaction, the chief executive officer now directly owns 402,557 shares of the company’s stock, valued at $2,821,924.57. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Orion Group news, CEO Travis J. Boone acquired 12,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average cost of $7.01 per share, for a total transaction of $84,120.00. Following the completion of the transaction, the chief executive officer now directly owns 402,557 shares of the company’s stock, valued at $2,821,924.57. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Edward Chipman Earle acquired 8,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average price of $6.88 per share, with a total value of $55,040.00. Following the completion of the transaction, the executive vice president now directly owns 69,602 shares of the company’s stock, valued at $478,861.76. The disclosure for this purchase can be found here. Insiders acquired 22,430 shares of company stock worth $156,340 over the last three months. 7.30% of the stock is currently owned by corporate insiders.

About Orion Group

Orion Group Holdings, Inc operates as a specialty construction company in the building, industrial, and infrastructure sectors in the United States, Alaska, Hawaii, Canada, and the Caribbean Basin. It operates in two segments, Marine and Concrete. The company provides marine construction services, including construction, restoration, dredging, maintenance, and repair of marine transportation facilities and pipelines, bridges and causeways, and marine environmental structures.