Orion Group (NYSE:ORN) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Orion Group Holdings, Inc. (NYSE:ORN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.12 and traded as high as $12.58. Orion Group shares last traded at $12.5410, with a volume of 296,618 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. JPMorgan Chase & Co. assumed coverage on Orion Group in a report on Thursday, January 22nd. They issued an “overweight” rating and a $16.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Orion Group in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.75.

Orion Group Stock Down 2.5%

The firm’s 50-day moving average is $10.68 and its two-hundred day moving average is $9.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.35 and a current ratio of 1.36. The stock has a market cap of $487.18 million, a P/E ratio of 53.09 and a beta of 1.16.

Orion Group (NYSE:ORN) last announced its quarterly earnings data on Wednesday, October 29th. The construction company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $225.10 million during the quarter, compared to analyst estimates of $224.47 million. Orion Group had a return on equity of 6.88% and a net margin of 1.13%. On average, equities research analysts anticipate that Orion Group Holdings, Inc. will post 0.06 earnings per share for the current year.

Hedge Funds Weigh In On Orion Group

Several hedge funds have recently added to or reduced their stakes in ORN. Geode Capital Management LLC increased its stake in Orion Group by 6.7% in the second quarter. Geode Capital Management LLC now owns 859,800 shares of the construction company’s stock valued at $7,800,000 after purchasing an additional 54,345 shares in the last quarter. Ardsley Advisory Partners LP grew its holdings in shares of Orion Group by 30.0% in the 2nd quarter. Ardsley Advisory Partners LP now owns 325,000 shares of the construction company’s stock valued at $2,948,000 after buying an additional 75,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Orion Group by 30.8% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 160,516 shares of the construction company’s stock valued at $1,456,000 after buying an additional 37,764 shares in the last quarter. Bastion Asset Management Inc. acquired a new stake in Orion Group during the 2nd quarter worth $884,000. Finally, First Wilshire Securities Management Inc. bought a new position in Orion Group during the second quarter worth about $4,813,000. Institutional investors and hedge funds 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.