Orion Group (NYSE:ORN) Shares Cross Above Fifty Day Moving Average on Disappointing Earnings

Shares of Orion Group Holdings, Inc. (NYSE:ORN) passed above its fifty day moving average during trading on Tuesday after the company announced better than expected quarterly earnings. The stock has a fifty day moving average of $9.04 and traded as high as $9.30. Orion Group shares last traded at $9.1630, with a volume of 941,377 shares changing hands.

The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01).

Analysts Set New Price Targets

ORN has been the subject of a number of analyst reports. Zacks Research cut shares of Orion Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. cut their price target on shares of Orion Group from $16.00 to $14.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. Oppenheimer cut their price target on shares of Orion Group from $20.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. Roth Capital set a $15.00 price target on Orion Group in a research report on Thursday, July 30th. Finally, Weiss Ratings lowered Orion Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 22nd. Five analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $14.75.

Insider Buying and Selling at Orion Group

In related news, Director Mary Sullivan acquired 3,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was acquired at an average price of $9.79 per share, with a total value of $29,370.00. Following the acquisition, the director directly owned 277,904 shares in the company, valued at $2,720,680.16. This represents a 1.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Ledford bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average cost of $9.62 per share, for a total transaction of $192,400.00. Following the completion of the acquisition, the director owned 43,112 shares of the company’s stock, valued at $414,737.44. This trade represents a 86.54% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 28,000 shares of company stock worth $270,820. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Orion Group

Several hedge funds have recently bought and sold shares of the stock. Grace & White Inc. NY increased its stake in shares of Orion Group by 2.5% during the third quarter. Grace & White Inc. NY now owns 832,902 shares of the company’s stock worth $7,121,000 after purchasing an additional 20,180 shares in the last quarter. Skylands Capital LLC purchased a new stake in shares of Orion Group in the third quarter valued at approximately $90,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Orion Group in the 3rd quarter worth $391,000. WINTON GROUP Ltd grew its holdings in shares of Orion Group by 91.1% in the second quarter. WINTON GROUP Ltd now owns 28,892 shares of the company’s stock valued at $486,000 after purchasing an additional 13,776 shares during the period. Finally, Formula Growth Ltd. acquired a new stake in Orion Group during the second quarter worth about $4,317,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Orion Group Stock Performance

The company’s 50-day moving average is $9.04 and its 200-day moving average is $11.82.

Orion Group Company Profile

Orion Group Holdings, Inc (NYSE:ORN) is a construction company that provides infrastructure services for public- and private-sector customers in the United States. The company operates through its Marine and Concrete segments, serving markets that require specialized construction capabilities and project management.

Orion’s marine construction business focuses on projects involving ports, waterways and other marine infrastructure. Its services include the construction and repair of piers, docks, bridges, breakwaters and other marine structures, as well as dredging, marine transportation and related site work.