Orion Group (NYSE:ORN) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• Orion Group (NYSE:ORN) shares have surpassed their 200-day moving average, reaching a high of $8.65 and last trading at $8.60.
• The stock has received a range of analyst ratings, with one brokerage lowering its rating from "buy" to "hold", while another maintained a "buy" rating with a price target of $11.50.
• About 70.25% of Orion Group's stock is owned by institutional investors, indicating significant interest from larger financial entities.

Orion Group Holdings, Inc. (NYSE:ORN - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.40 and traded as high as $8.65. Orion Group shares last traded at $8.60, with a volume of 499,703 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ORN. Wall Street Zen lowered Orion Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Zacks Research cut Orion Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Finally, B. Riley reiterated a "buy" rating and issued a $11.50 price objective (up from $9.00) on shares of Orion Group in a research note on Tuesday, June 10th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Orion Group has an average rating of "Moderate Buy" and a consensus price target of $11.25.

Orion Group Price Performance

The stock has a market capitalization of $341.57 million, a price-to-earnings ratio of 31.83, a P/E/G ratio of 16.14 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.37 and a current ratio of 1.38. The company has a fifty day simple moving average of $7.62 and a 200 day simple moving average of $7.40.

Institutional Trading of Orion Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ORN. Brandes Investment Partners LP increased its holdings in Orion Group by 1.2% during the 2nd quarter. Brandes Investment Partners LP now owns 4,324,589 shares of the construction company's stock worth $39,224,000 after purchasing an additional 51,112 shares in the last quarter. Wasatch Advisors LP purchased a new stake in shares of Orion Group during the second quarter worth $12,885,000. Grace & White Inc. NY lifted its position in shares of Orion Group by 1.5% during 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 raised its position in shares of 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 buying an additional 221,536 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of 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 buying an additional 192,229 shares in the last quarter. 70.25% of the stock is owned by institutional investors.

About Orion Group

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.

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