Orion S.A. (NYSE:OEC) Sees Large Increase in Short Interest

Orion S.A. (NYSE:OEC) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 842,698 shares, a growth of 41.3% from the December 31st total of 596,202 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average daily trading volume, of 600,527 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily trading volume, of 600,527 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.5% of the company’s shares are sold short.

Orion Stock Up 3.8%

Shares of Orion stock traded up $0.24 on Monday, hitting $6.42. 551,409 shares of the company’s stock traded hands, compared to its average volume of 593,189. Orion has a 52-week low of $4.34 and a 52-week high of $16.63. The company has a quick ratio of 0.64, a current ratio of 1.08 and a debt-to-equity ratio of 1.69. The stock has a market cap of $360.31 million, a P/E ratio of -11.06 and a beta of 1.06. The firm’s 50-day moving average is $5.57 and its 200 day moving average is $7.20.

Orion (NYSE:OEC) last announced its quarterly earnings data on Tuesday, November 4th. The specialty chemicals company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.07). Orion had a negative net margin of 1.74% and a positive return on equity of 14.90%. The firm had revenue of $450.90 million during the quarter, compared to the consensus estimate of $453.45 million. During the same period in the prior year, the firm earned $0.47 earnings per share. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities analysts anticipate that Orion will post 1.73 earnings per share for the current year.

Analyst Ratings Changes

OEC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Orion from $9.00 to $5.00 and set an “underweight” rating for the company in a research report on Friday, November 28th. Weiss Ratings restated a “sell (d)” rating on shares of Orion in a research note on Thursday, January 22nd. Mizuho set a $6.00 target price on Orion in a research note on Monday, October 20th. UBS Group raised their target price on Orion from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Finally, Zacks Research upgraded Orion from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 27th. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Orion currently has an average rating of “Strong Sell” and a consensus target price of $5.67.

Institutional Investors Weigh In On Orion

Several large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Orion by 3.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,857 shares of the specialty chemicals company’s stock worth $438,000 after buying an additional 1,097 shares during the period. Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Orion by 18.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 13,687 shares of the specialty chemicals company’s stock valued at $144,000 after buying an additional 2,112 shares in the last quarter. Rhumbline Advisers raised its position in shares of Orion by 2.8% during the second quarter. Rhumbline Advisers now owns 85,855 shares of the specialty chemicals company’s stock worth $901,000 after purchasing an additional 2,344 shares during the period. AXQ Capital LP lifted its holdings in shares of Orion by 20.9% during the third quarter. AXQ Capital LP now owns 14,337 shares of the specialty chemicals company’s stock valued at $109,000 after purchasing an additional 2,474 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Orion by 7.4% in the 2nd quarter. Prudential Financial Inc. now owns 39,275 shares of the specialty chemicals company’s stock valued at $412,000 after purchasing an additional 2,695 shares during the period. 94.33% of the stock is owned by institutional investors and hedge funds.

Orion Company Profile

Orion Engineered Carbons SA, operating as Orion (NYSE: OEC), is a global producer of carbon black, a critical performance additive used to enhance the strength, durability and conductivity of various materials. The company’s products chiefly serve the tire and rubber industry, where carbon black imparts wear resistance and longevity, as well as the plastics, coatings, inks and battery components markets, where specialty grades deliver tailored conductivity and color properties.

Orion’s product portfolio is organized into two core segments: Rubber and Specialty and Chemical Specialties.