Orion (NYSE:OEC) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Orion S.A. (NYSE:OEC)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.62 and traded as low as $6.32. Orion shares last traded at $6.39, with a volume of 464,188 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on OEC shares. JPMorgan Chase & Co. reduced their price objective on Orion from $9.00 to $5.00 and set an “underweight” rating on the stock in a research note on Friday, November 28th. Zacks Research cut shares of Orion from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 16th. UBS Group increased their price objective on shares of Orion from $5.50 to $6.00 and gave the stock a “neutral” rating in a research report on Monday. Weiss Ratings reissued a “sell (d)” rating on shares of Orion in a research note on Wednesday, October 8th. Finally, Mizuho set a $6.00 target price on shares of Orion in a report on Monday, October 20th. One equities research analyst has rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Strong Sell” and a consensus target price of $5.67.

Orion Price Performance

The company has a market cap of $358.80 million, a price-to-earnings ratio of -11.02 and a beta of 1.07. The company’s 50-day simple moving average is $5.22 and its 200-day simple moving average is $7.62. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.08 and a quick ratio of 0.64.

Orion (NYSE:OEC) last posted its earnings results on Tuesday, November 4th. The specialty chemicals company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The firm had revenue of $450.90 million for the quarter, compared to analyst estimates of $453.45 million. Orion had a positive return on equity of 14.90% and a negative net margin of 1.74%.The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 earnings per share. On average, equities research analysts anticipate that Orion S.A. will post 1.73 EPS for the current year.

Institutional Trading of Orion

Several large investors have recently modified their holdings of the business. Pzena Investment Management LLC lifted its stake in shares of Orion by 37.5% in the second quarter. Pzena Investment Management LLC now owns 4,577,197 shares of the specialty chemicals company’s stock worth $48,015,000 after acquiring an additional 1,248,295 shares in the last quarter. Medina Value Partners LLC increased its holdings in Orion by 245.3% during the 3rd quarter. Medina Value Partners LLC now owns 1,238,058 shares of the specialty chemicals company’s stock worth $9,384,000 after purchasing an additional 879,479 shares during the last quarter. Verition Fund Management LLC raised its position in shares of Orion by 190.0% in the 3rd quarter. Verition Fund Management LLC now owns 582,141 shares of the specialty chemicals company’s stock valued at $4,413,000 after purchasing an additional 381,388 shares in the last quarter. Harvey Partners LLC raised its position in shares of Orion by 15.5% in the 2nd quarter. Harvey Partners LLC now owns 2,424,995 shares of the specialty chemicals company’s stock valued at $25,438,000 after purchasing an additional 325,995 shares in the last quarter. Finally, CSM Advisors LLC boosted its stake in shares of Orion by 106.5% during the 3rd quarter. CSM Advisors LLC now owns 539,961 shares of the specialty chemicals company’s stock valued at $4,092,000 after buying an additional 278,501 shares during the last quarter. 94.33% of the stock is currently owned by institutional investors and hedge funds.

About Orion

Orion Engineered Carbons SA, operating as Orion (NYSE: OEC), is a global producer of carbon black, a critical performance additive used to enhance the strength, durability and conductivity of various materials. The company’s products chiefly serve the tire and rubber industry, where carbon black imparts wear resistance and longevity, as well as the plastics, coatings, inks and battery components markets, where specialty grades deliver tailored conductivity and color properties.

Orion’s product portfolio is organized into two core segments: Rubber and Specialty and Chemical Specialties.