Orion Group (NYSE:ORN) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Orion Group Holdings, Inc. (NYSE:ORN)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Orion Group in a research note on Thursday, January 22nd. JPMorgan Chase & Co. initiated coverage on shares of Orion Group in a research report on Thursday, January 22nd. They set an “overweight” rating and a $16.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $13.75.

Orion Group Stock Performance

The stock has a market cap of $500.39 million, a price-to-earnings ratio of 54.53 and a beta of 1.16. The company’s fifty day simple moving average is $10.62 and its two-hundred day simple moving average is $9.12. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.35.

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

Institutional Trading of Orion Group

A number of hedge funds have recently made changes to their positions in ORN. Allspring Global Investments Holdings LLC purchased a new position in Orion Group in the fourth quarter worth $2,977,000. SG Americas Securities LLC bought a new stake in Orion Group during the fourth quarter worth about $143,000. CIBC Bancorp USA Inc. purchased a new position in shares of Orion Group in the 3rd quarter worth about $164,000. PharVision Advisers LLC bought a new position in shares of Orion Group during the 3rd quarter valued at about $181,000. Finally, Wasatch Advisors LP raised its holdings in shares of Orion Group by 56.7% during the 3rd quarter. Wasatch Advisors LP now owns 2,226,519 shares of the construction company’s stock valued at $18,525,000 after buying an additional 805,956 shares in the last quarter. 70.25% of the stock is owned by institutional investors.

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.