Orion Group (NYSE:ORN) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Orion Group's shares have recently crossed above their 200-day moving average, with current trading at $8.30 compared to the average of $7.52.
• Wall Street analysts have mixed ratings for the stock, with one downgrade and a price target set at $11.50 by B. Riley, indicating potential for growth, while an average rating remains as "Moderate Buy."
• Institutional investors control 70.25% of Orion Group's stock, with several firms increasing their holdings significantly in the last quarter.

Orion Group Holdings, Inc. (NYSE:ORN - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.52 and traded as high as $8.53. Orion Group shares last traded at $8.30, with a volume of 169,674 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ORN. Wall Street Zen downgraded Orion Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. B. Riley reissued a "buy" rating and set a $11.50 price target (up previously from $9.00) on shares of Orion Group in a research report on Tuesday, June 10th. Finally, Zacks Research downgraded Orion Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $11.25.

Orion Group Stock Performance

The business has a 50-day moving average of $7.63 and a two-hundred day moving average of $7.52. The company has a market cap of $329.84 million, a P/E ratio of 30.74, a P/E/G ratio of 16.88 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.38 and a quick ratio of 1.37.

Institutional Investors Weigh In On Orion Group

A number of institutional investors have recently added to or reduced their stakes in ORN. Brandes Investment Partners LP boosted its holdings in Orion Group by 1.2% in the second quarter. Brandes Investment Partners LP now owns 4,324,589 shares of the construction company's stock worth $39,224,000 after acquiring an additional 51,112 shares in the last quarter. Wasatch Advisors LP acquired a new stake in Orion Group in the second quarter worth about $12,885,000. Grace & White Inc. NY boosted its holdings in Orion Group by 1.5% in the second quarter. Grace & White Inc. NY now owns 1,007,797 shares of the construction company's stock worth $9,141,000 after acquiring an additional 15,000 shares in the last quarter. Next Century Growth Investors LLC boosted its holdings in Orion Group by 31.1% in the second quarter. Next Century Growth Investors LLC now owns 932,908 shares of the construction company's stock worth $8,461,000 after acquiring an additional 221,536 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Orion Group by 28.4% in the first quarter. American Century Companies Inc. now owns 868,327 shares of the construction company's stock worth $4,541,000 after acquiring an additional 192,229 shares in the last quarter. Institutional investors own 70.25% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.