Orion Group (NYSE:ORN) Shares Cross Above 200-Day Moving Average – What’s Next?

Orion Group Holdings, Inc. (NYSE:ORN) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.93 and traded as high as $11.43. Orion Group shares last traded at $11.21, with a volume of 252,085 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Orion Group in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.25.

Orion Group Stock Performance

The business’s fifty day moving average price is $10.16 and its 200-day moving average price is $8.93. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.35. The stock has a market capitalization of $447.28 million, a PE ratio of 48.74, a P/E/G ratio of 3.07 and a beta of 1.16.

Orion Group (NYSE:ORN) last issued its quarterly earnings data on Wednesday, October 29th. The construction company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. Orion Group had a net margin of 1.13% and a return on equity of 6.88%. The company had revenue of $225.10 million during the quarter, compared to analysts’ expectations of $224.47 million. As a group, equities research analysts expect that Orion Group Holdings, Inc. will post 0.06 EPS for the current year.

Institutional Investors Weigh In On Orion Group

A number of institutional investors and hedge funds have recently made changes to their positions in ORN. Quarry LP bought a new position in Orion Group in the 3rd quarter worth about $33,000. First Horizon Advisors Inc. boosted its position in shares of Orion Group by 171.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,487 shares of the construction company’s stock valued at $41,000 after acquiring an additional 2,832 shares during the last quarter. Comerica Bank grew its holdings in shares of Orion Group by 219.7% during the third quarter. Comerica Bank now owns 5,183 shares of the construction company’s stock worth $43,000 after purchasing an additional 3,562 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Orion Group in the third quarter worth approximately $86,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Orion Group in the third quarter valued at approximately $87,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

About Orion Group

Orion Group (NYSE:ORN) is a global provider of specialized staffing and workforce solutions, serving clients across the energy, industrial, and technical sectors. The company offers a range of services including engineering and technical recruitment, information technology staffing, and comprehensive workforce management. Orion Group focuses on delivering qualified talent for complex projects, from exploration and production in the oil and gas industry to large-scale infrastructure and manufacturing initiatives.

Founded in 1972 and headquartered in Jacksonville, Florida, Orion Group has grown its operations to support projects in North America, Europe, the Middle East, and the Asia–Pacific region.