Orion Group (NYSE:ORN) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Orion Group shares rose 1.8% and crossed above their 200-day moving average during Tuesday trading, briefly reaching $13.82 before last trading around $13.59.
• Analyst sentiment is mixed but still generally constructive: Oppenheimer started coverage with an outperform rating and $20 price target, while the consensus target sits at $17.60 with a Moderate Buy rating.
• The company recently reported $0.05 EPS on $216.3 million in revenue, beating expectations, while insider selling and recent fund buying show ongoing activity around the stock.

Orion Group Holdings, Inc. (NYSE:ORN - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 Analyst Weigh In

Several equities research analysts have commented on the stock. Oppenheimer initiated coverage on shares of Orion Group in a research note on Tuesday, July 7th. They issued an "outperform" rating and a $20.00 price objective for the company. Zacks Research downgraded Orion Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Weiss Ratings upgraded Orion Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 4th. Wall Street Zen raised Orion Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 2nd. Finally, JPMorgan Chase & Co. increased their price target on Orion Group from $16.00 to $19.00 and gave the company an "overweight" rating in a research report on Friday, May 15th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.60.

Orion Group Stock Up 1.8%

The company has a market capitalization of $549.92 million, a PE ratio of 64.69 and a beta of 1.34. The stock's fifty day moving average is $14.72 and its two-hundred day moving average is $12.88. 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $216.30 million during the quarter, compared to the consensus estimate of $198.12 million. Orion Group had a net margin of 0.98% and a return on equity of 4.44%. As a group, analysts predict that Orion Group Holdings, Inc. will post 0.25 EPS for the current year.

Insider Activity

In other news, Director Margaret M. Foran sold 10,695 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $15.70, for a total transaction of $167,911.50. Following the completion of the sale, the director owned 116,846 shares in the company, valued at $1,834,482.20. This trade represents a 8.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 40,695 shares of company stock worth $606,512. Company insiders own 5.70% of the company's stock.

Hedge Funds Weigh In On Orion Group

Several institutional investors have recently bought and sold shares of ORN. Quarry LP purchased a new stake in Orion Group in the third quarter worth $33,000. Fifth Third Bancorp bought a new position in shares of Orion Group during the 1st quarter worth $52,000. Comerica Bank grew its stake in shares of Orion Group by 219.7% during the 3rd quarter. Comerica Bank now owns 5,183 shares of the construction company's stock worth $43,000 after acquiring an additional 3,562 shares during the period. OpenArc Corporate Advisory LLC purchased a new stake in Orion Group in the 4th quarter worth about $100,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Orion Group in the 3rd quarter worth about $86,000. Hedge funds and other 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.

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