Orion Group (NYSE:ORN) Shares Down 5.8% – What’s Next?

Orion Group Holdings, Inc. (NYSE:ORN) shares fell 5.8% during mid-day trading on Thursday . The company traded as low as $13.67 and last traded at $13.7050. 108,143 shares were traded during trading, a decline of 70% from the average session volume of 366,404 shares. The stock had previously closed at $14.55.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ORN. JPMorgan Chase & Co. raised their price objective on Orion Group from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. B. Riley Financial raised their price objective on Orion Group from $15.50 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Roth Mkm began coverage on Orion Group in a research report on Tuesday, February 10th. They set a “buy” rating and a $17.00 price objective for the company. DA Davidson raised their price objective on Orion Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings upgraded Orion Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Orion Group presently has a consensus rating of “Buy” and a consensus target price of $17.00.

Orion Group Stock Down 4.9%

The company has a quick ratio of 1.40, a current ratio of 1.41 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $12.24 and a 200 day simple moving average of $11.64. The stock has a market cap of $559.84 million, a price-to-earnings ratio of 65.87 and a beta of 1.39.

Orion Group (NYSE:ORN) last announced its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.05 EPS for the quarter. Orion Group had a return on equity of 4.44% and a net margin of 0.98%.The firm had revenue of $216.30 million during the quarter, compared to analysts’ expectations of $198.13 million. As a group, analysts expect that Orion Group Holdings, Inc. will post 0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Orion Group

In other Orion Group news, Director Austin J. Shanfelter sold 90,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $12.17, for a total value of $1,095,300.00. Following the completion of the sale, the director owned 329,215 shares of the company’s stock, valued at approximately $4,006,546.55. This trade represents a 21.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $167,911.50. Following the completion of the sale, the director directly owned 116,846 shares of the company’s stock, valued at $1,834,482.20. This trade represents a 8.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 141,390 shares of company stock valued at $1,832,825. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Orion Group during the fourth quarter valued at approximately $2,977,000. Simcoe Capital LLC purchased a new position in shares of Orion Group during the fourth quarter valued at approximately $4,509,000. CenterBook Partners LP boosted its position in shares of Orion Group by 27.0% during the third quarter. CenterBook Partners LP now owns 541,511 shares of the construction company’s stock valued at $4,505,000 after buying an additional 114,986 shares during the last quarter. Legato Capital Management LLC boosted its position in shares of Orion Group by 62.0% during the fourth quarter. Legato Capital Management LLC now owns 145,050 shares of the construction company’s stock valued at $1,442,000 after buying an additional 55,521 shares during the last quarter. Finally, Seros Financial LLC boosted its position in shares of Orion Group by 21.5% during the fourth quarter. Seros Financial LLC now owns 162,134 shares of the construction company’s stock valued at $1,612,000 after buying an additional 28,686 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Orion Group Company Profile

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.