Orion Group (NYSE:ORN) Stock Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Orion Group Holdings, Inc. (NYSE:ORN) shares exceeded their 200-day moving average of $7.62, reaching a high of $9.05 before closing at $8.92.
• Recent analyst ratings have downgraded Orion Group from a "strong-buy" to a "hold" status, with an average price target of $11.25.
• Institutional investors own 70.25% of the stock, with significant stake increases from Bank of America Corp DE and other firms in recent quarters.

Orion Group Holdings, Inc. (NYSE:ORN - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.62 and traded as high as $9.05. Orion Group shares last traded at $8.92, with a volume of 409,536 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Zacks Research lowered Orion Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Wall Street Zen lowered Orion Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Orion Group in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock 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 $354.44 million, a price-to-earnings ratio of 33.04, a P/E/G ratio of 16.92 and a beta of 1.16. The company has a fifty day simple moving average of $7.58 and a 200 day simple moving average of $7.62. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.37 and a current ratio of 1.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its stake in shares of Orion Group by 84.4% in the 4th quarter. Bank of America Corp DE now owns 54,493 shares of the construction company's stock valued at $399,000 after purchasing an additional 24,939 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Orion Group by 13.9% in the 1st quarter. Bank of New York Mellon Corp now owns 83,886 shares of the construction company's stock valued at $439,000 after purchasing an additional 10,222 shares during the period. American Century Companies Inc. lifted its stake in shares of Orion Group by 28.4% in the 1st quarter. American Century Companies Inc. now owns 868,327 shares of the construction company's stock valued at $4,541,000 after purchasing an additional 192,229 shares during the period. Nuveen LLC acquired a new position in shares of Orion Group in the 1st quarter valued at about $1,813,000. Finally, Trexquant Investment LP acquired a new position in shares of Orion Group in the 1st quarter valued at about $239,000. 70.25% of the stock is owned by institutional investors and hedge funds.

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.

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