Orion Group (NYSE:ORN) Shares Cross Above 200-Day Moving Average – Time to Sell?

Orion Group Holdings, Inc. (NYSE:ORN)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.86 and traded as high as $10.18. Orion Group shares last traded at $10.1140, with a volume of 201,315 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Orion Group in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.25.

Orion Group Stock Down 0.6%

The firm has a market capitalization of $403.56 million, a PE ratio of 43.98, a P/E/G ratio of 2.91 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.35. The company has a 50-day moving average price of $10.19 and a 200 day moving average price of $8.86.

Orion Group (NYSE:ORN) last issued its earnings results on Wednesday, September 20th. The construction company reported ($0.03) earnings per share (EPS) for the quarter. Orion Group had a net margin of 1.13% and a return on equity of 6.88%. The business had revenue of $194.58 million for the quarter. Analysts forecast that Orion Group Holdings, Inc. will post 0.06 earnings per share for the current year.

Hedge Funds Weigh In On Orion Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Bancorp USA Inc. purchased a new position in Orion Group during the third quarter valued at $164,000. PharVision Advisers LLC bought a new position in shares of Orion Group during the 3rd quarter valued at about $181,000. Wasatch Advisors LP grew its position in shares of Orion Group by 56.7% during the third quarter. Wasatch Advisors LP now owns 2,226,519 shares of the construction company’s stock valued at $18,525,000 after purchasing an additional 805,956 shares in the last quarter. Westerly Capital Management LLC purchased a new position in shares of Orion Group during the third quarter valued at about $208,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Orion Group in the third quarter worth about $86,000. Institutional investors 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.