Orion180 Insurance Group (NASDAQ:OIG) Shares Gap Down – Here’s Why

Orion180 Insurance Group Inc. (NASDAQ:OIG) shares gapped down before the market opened on Friday. The stock had previously closed at $10.07, but opened at $8.93. Orion180 Insurance Group shares last traded at $8.58, with a volume of 958 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on OIG shares. Royal Bank Of Canada started coverage on shares of Orion180 Insurance Group in a research report on Tuesday, October 13th. They issued an “outperform” rating and a $15.00 price target for the company. Texas Capital upgraded Orion180 Insurance Group to a “strong-buy” rating in a research note on Tuesday, October 20th. Citizens Jmp assumed coverage on Orion180 Insurance Group in a research note on Tuesday, October 13th. They set a “market outperform” rating and a $20.00 price objective on the stock. The Goldman Sachs Group began coverage on Orion180 Insurance Group in a report on Tuesday, October 13th. They issued a “buy” rating and a $13.00 price objective for the company. Finally, Zacks Research upgraded Orion180 Insurance Group to a “hold” rating in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.98.

Orion180 Insurance Group Trading Up 3.1%

Insider Buying and Selling at Orion180 Insurance Group

In other news, major shareholder Craig Darling purchased 6,990 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The stock was bought at an average price of $10.72 per share, with a total value of $74,932.80. Following the acquisition, the insider owned 5,711,190 shares in the company, valued at approximately $61,223,956.80. The trade was a 0.12% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have purchased 10,990 shares of company stock worth $115,797. Corporate insiders own 2.58% of the company’s stock.

About Orion180 Insurance Group

Orion180 Insurance Group, Inc is a technology-driven property and casualty insurance company focused primarily on personal lines coverage. Through its insurance subsidiaries, the company provides products designed to protect residential properties and personal belongings, including homeowners, renters and related property insurance offerings.

The company uses proprietary technology and data analytics to support policy underwriting, pricing, distribution and claims management. Orion180 distributes its products through independent insurance agents and other channels, with an emphasis on simplifying the insurance purchasing and servicing experience for customers and agents.

Founded in 2016, Orion180 serves customers in selected U.S.