Orion Group (NYSE:ORN) Stock Price Down 5.8% – Here’s What Happened

Orion Group Holdings, Inc. (NYSE:ORN)’s stock price dropped 5.8% during trading on Thursday . The company traded as low as $13.67 and last traded at $13.7050. Approximately 108,143 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 366,404 shares. The stock had previously closed at $14.55.

Analysts Set New Price Targets

ORN has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Orion Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 4th. B. Riley Financial increased their price target on shares of Orion Group from $15.50 to $17.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Zacks Research raised shares of Orion Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. JPMorgan Chase & Co. increased their price target on shares of Orion Group from $16.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Finally, DA Davidson increased their target price on shares of Orion Group from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, February 5th. One equities research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $17.00.

Orion Group Stock Performance

The company has a current ratio of 1.41, a quick ratio of 1.40 and a debt-to-equity ratio of 0.43. The company’s fifty day moving average is $12.34 and its 200 day moving average is $11.68. The company has a market cap of $570.77 million, a P/E ratio of 67.15 and a beta of 1.39.

Orion Group (NYSE:ORN) last released its earnings results on Wednesday, April 29th. The construction company reported $0.05 EPS for the quarter. Orion Group had a net margin of 0.98% and a return on equity of 4.44%. The company had revenue of $216.30 million for the quarter, compared to analyst estimates of $198.13 million. As a group, equities analysts predict that Orion Group Holdings, Inc. will post 0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Orion Group news, Director Austin J. Shanfelter sold 90,000 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $12.17, for a total value of $1,095,300.00. Following the sale, the director owned 329,215 shares of the company’s stock, valued at $4,006,546.55. This trade represents a 21.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret M. Foran sold 10,695 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $15.70, for a total transaction of $167,911.50. Following the completion of the sale, the director directly owned 116,846 shares in the company, valued at approximately $1,834,482.20. This trade represents a 8.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 141,390 shares of company stock valued at $1,832,825 in the last quarter. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Orion Group

A number of large investors have recently added to or reduced their stakes in the company. First Trust Advisors LP grew its holdings in Orion Group by 0.6% in the 1st quarter. First Trust Advisors LP now owns 120,534 shares of the construction company’s stock worth $1,314,000 after acquiring an additional 697 shares during the last quarter. Barclays PLC grew its holdings in Orion Group by 1.0% in the 4th quarter. Barclays PLC now owns 89,908 shares of the construction company’s stock worth $894,000 after acquiring an additional 888 shares during the last quarter. Deutsche Bank AG grew its holdings in Orion Group by 5.7% in the 4th quarter. Deutsche Bank AG now owns 33,690 shares of the construction company’s stock worth $335,000 after acquiring an additional 1,802 shares during the last quarter. Empowered Funds LLC grew its holdings in Orion Group by 1.9% in the 1st quarter. Empowered Funds LLC now owns 119,720 shares of the construction company’s stock worth $626,000 after acquiring an additional 2,220 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Orion Group by 6.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 50,060 shares of the construction company’s stock worth $416,000 after acquiring an additional 2,888 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

Orion Group Company Profile

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.