Orion Group (NYSE:ORN) Shares Up 6.3% – Here’s What Happened

Orion Group Holdings, Inc. (NYSE:ORN)’s share price traded up 6.3% during mid-day trading on Thursday . The stock traded as high as $14.66 and last traded at $13.6850. 425,958 shares traded hands during mid-day trading, an increase of 42% from the average session volume of 299,526 shares. The stock had previously closed at $12.87.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ORN shares. 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 target for the company. B. Riley reaffirmed a “buy” rating on shares of Orion Group in a research note on Thursday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Orion Group in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Orion Group currently has an average rating of “Moderate Buy” and a consensus price target of $13.75.

Orion Group Price Performance

The firm has a market cap of $553.21 million, a PE ratio of 60.29 and a beta of 1.18. 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 firm has a 50-day simple moving average of $10.88 and a 200 day simple moving average of $9.24.

Institutional Trading of Orion Group

Several hedge funds and other institutional investors have recently made changes to their positions in ORN. Quarry LP purchased a new position in Orion Group during the third quarter valued at $33,000. First Horizon Advisors Inc. raised its position in shares of Orion Group by 171.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 4,487 shares of the construction company’s stock worth $41,000 after purchasing an additional 2,832 shares during the last quarter. Comerica Bank boosted its stake in Orion Group by 219.7% in the 3rd quarter. Comerica Bank now owns 5,183 shares of the construction company’s stock worth $43,000 after purchasing an additional 3,562 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Orion Group during the 3rd quarter valued at about $86,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Orion Group during the 3rd quarter valued at about $87,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

About Orion Group

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.