Orion Group (NYSE:ORN) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Orion Group Holdings, Inc. (NYSE:ORN)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $12.88 and traded as high as $13.82. Orion Group shares last traded at $13.5850, with a volume of 321,796 shares traded.

Analysts Set New Price Targets

ORN has been the subject of several recent research reports. Wall Street Zen upgraded shares of Orion Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Oppenheimer began coverage on shares of Orion Group in a research note on Tuesday, July 7th. They set an “outperform” rating and a $20.00 price target on the stock. Weiss Ratings raised shares of Orion Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 4th. Zacks Research lowered shares of Orion Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Orion Group from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.60.

Orion Group Price Performance

The business’s 50-day moving average price is $14.72 and its 200 day moving average price is $12.88. The company has a quick ratio of 1.40, a current ratio of 1.41 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $549.92 million, a P/E ratio of 64.69 and a beta of 1.34.

Orion Group (NYSE:ORN) last issued its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.05 EPS for the quarter. The company had revenue of $216.30 million during the quarter, compared to analysts’ expectations of $198.12 million. Orion Group had a net margin of 0.98% and a return on equity of 4.44%. Analysts anticipate that Orion Group Holdings, Inc. will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Margaret M. Foran sold 20,000 shares of the business’s stock in a transaction on 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 $2,010,849.42. The trade was a 12.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 40,695 shares of company stock valued at $606,512. 5.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in Orion Group by 64.2% during the first quarter. AQR Capital Management LLC now owns 480,451 shares of the construction company’s stock valued at $2,513,000 after buying an additional 187,819 shares during the period. NewEdge Advisors LLC increased its stake in Orion Group by 55.7% in the 1st quarter. NewEdge Advisors LLC now owns 25,001 shares of the construction company’s stock worth $131,000 after acquiring an additional 8,945 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Orion Group by 1.9% in the 1st quarter. Empowered Funds LLC now owns 119,720 shares of the construction company’s stock valued at $626,000 after acquiring an additional 2,220 shares in the last quarter. Strs Ohio purchased a new stake in shares of Orion Group in the 1st quarter valued at about $175,000. Finally, Creative Planning bought a new stake in shares of Orion Group during the 2nd quarter valued at about $202,000. 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.