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

Orion Group Holdings, Inc. (NYSE:ORN)’s stock price dropped 5.8% on Thursday . The company traded as low as $13.67 and last traded at $13.7050. Approximately 108,143 shares traded hands during trading, a decline of 70% from the average daily volume of 366,404 shares. The stock had previously closed at $14.55.

Analyst Upgrades and Downgrades

ORN has been the subject of a number of recent analyst reports. Roth Mkm initiated coverage on Orion Group in a research report on Tuesday, February 10th. They set a “buy” rating and a $17.00 target price for the company. Wall Street Zen upgraded Orion Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. DA Davidson upped their target price on Orion Group from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Weiss Ratings upgraded Orion Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Finally, Zacks Research upgraded Orion Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $17.00.

Orion Group Price Performance

The business’s fifty day moving average price is $12.24 and its 200 day moving average price is $11.64. The stock has a market cap of $559.84 million, a P/E ratio of 65.87 and a beta of 1.39. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.41 and a quick ratio of 1.40.

Orion Group (NYSE:ORN) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $198.13 million. Sell-side analysts forecast that Orion Group Holdings, Inc. will post 0.23 EPS for the current fiscal year.

Insider Activity

In other news, Director Quentin P. Jr. Smith sold 10,695 shares of Orion Group stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $12.25, for a total transaction of $131,013.75. Following the sale, the director directly owned 90,659 shares of the company’s stock, valued at approximately $1,110,572.75. This trade represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Margaret M. Foran sold 10,695 shares of Orion Group stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $15.70, for a total value of $167,911.50. Following the sale, the director directly owned 116,846 shares in the company, valued at $1,834,482.20. The trade was a 8.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 141,390 shares of company stock valued at $1,832,825. 5.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Orion Group

A number of hedge funds have recently made changes to their positions in ORN. Wasatch Advisors LP bought a new position in shares of Orion Group during the second quarter worth about $12,885,000. Invesco Ltd. raised its position in shares of Orion Group by 79.4% during the third quarter. Invesco Ltd. now owns 1,271,358 shares of the construction company’s stock worth $10,578,000 after acquiring an additional 562,863 shares during the last quarter. Simcoe Capital LLC bought a new position in shares of Orion Group during the fourth quarter worth about $4,509,000. Allspring Global Investments Holdings LLC bought a new position in shares of Orion Group during the fourth quarter worth about $2,977,000. Finally, JPMorgan Chase & Co. raised its position in shares of Orion Group by 727.0% during the second quarter. JPMorgan Chase & Co. now owns 283,236 shares of the construction company’s stock worth $2,569,000 after acquiring an additional 248,988 shares during the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

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.