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

Shares of Orion Group Holdings, Inc. (NYSE:ORN) passed 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ORN. Weiss Ratings raised shares of Orion Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Wall Street Zen raised shares of Orion Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. JPMorgan Chase & Co. upped their price objective on Orion Group from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Oppenheimer started coverage on Orion Group in a report on Tuesday, July 7th. They set an “outperform” rating and a $20.00 price objective for the company. Finally, Zacks Research downgraded Orion Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.60.

Orion Group Price Performance

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 stock has a market cap of $530.73 million, a P/E ratio of 62.44 and a beta of 1.34. The business’s 50-day simple moving average is $14.69 and its two-hundred day simple moving average is $12.90.

Orion Group (NYSE:ORN) last posted its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.05 earnings per share (EPS) for the quarter. The company had revenue of $216.30 million for the quarter, compared to analyst estimates of $198.12 million. Orion Group had a net margin of 0.98% and a return on equity of 4.44%. Sell-side analysts expect that Orion Group Holdings, Inc. will post 0.25 EPS for the current year.

Insider Transactions at Orion Group

In other Orion Group news, Director Margaret M. Foran sold 10,695 shares of the 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 sale, the director owned 116,846 shares in the company, valued at $1,834,482.20. This represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 40,695 shares of company stock worth $606,512. Insiders own 5.70% of the company’s stock.

Institutional Trading of Orion Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ORN. Wasatch Advisors LP bought a new position in Orion Group in the 2nd quarter worth about $12,885,000. Invesco Ltd. lifted its holdings in shares of Orion Group by 79.4% in the third quarter. Invesco Ltd. now owns 1,271,358 shares of the construction company’s stock worth $10,578,000 after buying an additional 562,863 shares in the last quarter. Simcoe Capital LLC bought a new position in shares of Orion Group in the fourth quarter valued at approximately $4,509,000. Allspring Global Investments Holdings LLC bought a new position in shares of Orion Group in the fourth quarter valued at approximately $2,977,000. Finally, JPMorgan Chase & Co. grew its stake in Orion Group by 727.0% during the second quarter. JPMorgan Chase & Co. now owns 283,236 shares of the construction company’s stock valued at $2,569,000 after acquiring an additional 248,988 shares in the last quarter. 70.25% of the stock is currently owned by 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.