Orion Group (NYSE:ORN) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Orion Group Holdings, Inc. (NYSE:ORN - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.35 and traded as high as $8.82. Orion Group shares last traded at $8.81, with a volume of 199,324 shares trading hands.

Analysts Set New Price Targets

ORN has been the subject of several research reports. Wall Street Zen raised shares of Orion Group from a "hold" rating to a "buy" rating in a research note on Friday, April 18th. B. Riley reaffirmed a "buy" rating and set a $11.50 price target (up from $9.00) on shares of Orion Group in a research report on Tuesday, June 10th.

Orion Group Stock Performance

The stock has a 50 day simple moving average of $8.58 and a 200 day simple moving average of $7.36. The company has a market cap of $340.13 million, a price-to-earnings ratio of 172.03, a PEG ratio of 34.32 and a beta of 1.00. The company has a quick ratio of 1.37, a current ratio of 1.38 and a debt-to-equity ratio of 0.21.

Orion Group (NYSE:ORN - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The construction company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.12. The company had revenue of $188.65 million for the quarter, compared to analysts' expectations of $177.33 million. Orion Group had a return on equity of 5.12% and a net margin of 0.36%. As a group, analysts predict that Orion Group Holdings, Inc. will post 0.06 EPS for the current year.

Insider Buying and Selling

In other Orion Group news, Director Austin J. Shanfelter sold 30,000 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $8.67, for a total value of $260,100.00. Following the transaction, the director owned 419,215 shares in the company, valued at $3,634,594.05. The trade was a 6.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Orion Group

Institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC raised its stake in shares of Orion Group by 46.1% in the 1st quarter. Voya Investment Management LLC now owns 36,476 shares of the construction company's stock valued at $191,000 after purchasing an additional 11,506 shares in the last quarter. Strs Ohio acquired a new stake in shares of Orion Group in the 1st quarter valued at about $175,000. SCS Capital Management LLC acquired a new stake in shares of Orion Group in the 1st quarter valued at about $89,000. Empowered Funds LLC raised its stake in shares of Orion Group by 1.9% in the 1st quarter. Empowered Funds LLC now owns 119,720 shares of the construction company's stock valued at $626,000 after purchasing an additional 2,220 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Orion Group by 55.7% in the 1st quarter. NewEdge Advisors LLC now owns 25,001 shares of the construction company's stock valued at $131,000 after purchasing an additional 8,945 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

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.