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

Orion Group Holdings, Inc. (NYSE:ORN)’s share price crossed 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).

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wall Street Zen downgraded Orion Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 1st. Oppenheimer lowered their price target on Orion Group from $20.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, July 30th. Roth Capital set a $15.00 price target on Orion Group in a report on Thursday, July 30th. Zacks Research downgraded Orion Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings lowered shares of Orion Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 22nd. Five investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.75.

Insider Transactions at Orion Group

In related news, EVP Edward Earle acquired 5,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average price of $9.81 per share, with a total value of $49,050.00. Following the transaction, the executive vice president owned 150,042 shares of the company’s stock, valued at approximately $1,471,912.02. This trade represents a 3.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mary E. Sullivan bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was bought 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. The trade was a 1.09% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 28,000 shares of company stock worth $270,820. 5.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ORN. Group One Trading LLC acquired a new stake in shares of Orion Group in the second quarter valued at $26,000. Fifth Third Bancorp purchased a new stake in shares of Orion Group in the 1st quarter valued at $52,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Orion Group in the 2nd quarter valued at $107,000. Legal & General Group Plc purchased a new stake in shares of Orion Group in the 2nd quarter valued at $146,000. Finally, Skylands Capital LLC acquired a new position in Orion Group during the 3rd quarter worth about $90,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Orion Group Trading Up 4.4%

The company has a 50 day moving average of $9.04 and a 200-day moving average of $11.82.

About Orion Group

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.