Orion Group (NYSE:ORN) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Orion Group Holdings, Inc. (NYSE:ORN) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.90 and traded as high as $14.30. Orion Group shares last traded at $13.9380, with a volume of 223,955 shares traded.

Analysts Set New Price Targets

Several equities analysts have issued reports on ORN shares. Weiss Ratings upgraded Orion Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Orion Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. B. Riley Financial raised their price objective on shares of Orion Group from $15.50 to $17.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. JPMorgan Chase & Co. raised their price objective on shares of Orion Group from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Finally, Roth Mkm began coverage on shares of Orion Group in a research note on Tuesday, February 10th. They issued a “buy” rating and a $17.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $17.00.

Orion Group Stock Down 1.1%

The stock has a market capitalization of $564.21 million, a PE ratio of 66.37 and a beta of 1.37. The firm has a 50 day moving average of $12.94 and a two-hundred day moving average of $11.90. The company has a current ratio of 1.41, a quick ratio of 1.40 and a debt-to-equity ratio of 0.43.

Orion Group (NYSE:ORN) last released its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.05 earnings per share for the quarter. Orion Group had a return on equity of 4.44% and a net margin of 0.98%.The firm had revenue of $216.30 million during the quarter, compared to the consensus estimate of $198.13 million. Equities research analysts anticipate that Orion Group Holdings, Inc. will post 0.23 earnings per share for the current year.

Insider Buying and Selling at Orion Group

In other Orion Group news, Director Margaret M. Foran sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $14.62, for a total transaction of $292,400.00. Following the completion of the transaction, the director directly owned 137,541 shares in the company, valued at approximately $2,010,849.42. This trade represents a 12.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Quentin P. Jr. Smith sold 10,695 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $12.25, for a total transaction of $131,013.75. Following the transaction, the director owned 90,659 shares of the company’s stock, valued at $1,110,572.75. This trade represents a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 141,390 shares of company stock worth $1,832,825. 5.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Orion Group

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Orion Group during the third quarter worth $33,000. Comerica Bank increased its position in 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 buying an additional 3,562 shares in the last quarter. Fifth Third Bancorp purchased a new position in Orion Group during the first quarter worth $52,000. Susquehanna Fundamental Investments LLC purchased a new position in Orion Group during the third quarter worth $86,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Orion Group during the third quarter worth $87,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

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.