Orion Group Holdings, Inc. (NYSE:ORN) Sees Significant Drop in Short Interest

Orion Group Holdings, Inc. (NYSE:ORN) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 1,100,000 shares, a decrease of 27.6% from the October 31st total of 1,520,000 shares. Based on an average daily volume of 479,000 shares, the days-to-cover ratio is presently 2.3 days.

Orion Group Stock Down 0.6 %

Shares of Orion Group stock traded down $0.05 on Friday, reaching $8.72. 164,252 shares of the company were exchanged, compared to its average volume of 417,792. Orion Group has a 1-year low of $4.09 and a 1-year high of $12.12. The company has a market cap of $339.21 million, a P/E ratio of -21.92, a price-to-earnings-growth ratio of 3.69 and a beta of 0.80. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.33. The stock’s 50 day moving average price is $6.67 and its 200-day moving average price is $7.90.

Insider Transactions at Orion Group

In other news, EVP Edward Chipman Earle bought 15,633 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average cost of $6.05 per share, for a total transaction of $94,579.65. Following the acquisition, the executive vice president now directly owns 86,235 shares of the company’s stock, valued at $521,721.75. The trade was a 22.14 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Orion Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new position in Orion Group in the first quarter valued at approximately $197,000. Lazard Asset Management LLC acquired a new position in Orion Group in the first quarter valued at approximately $41,000. Virtu Financial LLC acquired a new position in Orion Group in the first quarter valued at approximately $269,000. Bank of New York Mellon Corp acquired a new position in Orion Group in the second quarter valued at approximately $897,000. Finally, Bailard Inc. acquired a new position in Orion Group in the second quarter valued at approximately $323,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded Orion Group from a “hold” rating to a “buy” rating in a report on Friday, November 1st.

Orion Group Company Profile

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.