Orion Group Holdings, Inc. (NYSE:ORN) Sees Significant Increase in Short Interest

Orion Group Holdings, Inc. (NYSE:ORN) saw a large growth in short interest in June. As of June 15th, there was short interest totalling 644,100 shares, a growth of 26.8% from the May 31st total of 507,900 shares. Based on an average daily trading volume, of 422,500 shares, the short-interest ratio is presently 1.5 days. Approximately 2.1% of the shares of the stock are sold short.

Insider Transactions at Orion Group

In related news, Director Austin J. Shanfelter sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $9.01, for a total value of $360,400.00. Following the sale, the director now directly owns 437,734 shares in the company, valued at approximately $3,943,983.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Orion Group news, Director Austin J. Shanfelter sold 40,000 shares of Orion Group stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $9.01, for a total transaction of $360,400.00. Following the transaction, the director now directly owns 437,734 shares in the company, valued at approximately $3,943,983.34. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Gordon Scott Thanisch bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was acquired at an average cost of $7.12 per share, with a total value of $28,480.00. Following the transaction, the chief financial officer now owns 167,811 shares of the company’s stock, valued at $1,194,814.32. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 8,560 shares of company stock valued at $60,995. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Orion Group

A number of institutional investors have recently bought and sold shares of the business. Barclays PLC acquired a new stake in Orion Group in the 3rd quarter valued at $166,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Orion Group during the third quarter worth about $156,000. Citigroup Inc. acquired a new stake in shares of Orion Group during the third quarter worth approximately $98,000. Legato Capital Management LLC raised its stake in shares of Orion Group by 521.6% in the fourth quarter. Legato Capital Management LLC now owns 96,417 shares of the construction company’s stock valued at $476,000 after acquiring an additional 80,907 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Orion Group by 21.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 28,332 shares of the construction company’s stock worth $140,000 after acquiring an additional 5,092 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. StockNews.com lowered shares of Orion Group from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Craig Hallum assumed coverage on shares of Orion Group in a research report on Tuesday, May 14th. They set a “buy” rating and a $14.00 target price on the stock. Finally, B. Riley raised their target price on Orion Group from $9.50 to $12.50 and gave the company a “buy” rating in a report on Tuesday, June 4th.

Orion Group Stock Performance

Shares of NYSE:ORN traded down $0.30 on Tuesday, hitting $8.30. 139,516 shares of the company were exchanged, compared to its average volume of 367,975. The company’s 50 day moving average price is $9.01 and its two-hundred day moving average price is $7.44. The firm has a market capitalization of $272.74 million, a price-to-earnings ratio of -23.46, a PEG ratio of 1.95 and a beta of 0.84. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.33. Orion Group has a one year low of $2.76 and a one year high of $11.00.

Orion Group (NYSE:ORN) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.06. Orion Group had a negative return on equity of 4.14% and a negative net margin of 1.59%. The firm had revenue of $160.67 million for the quarter, compared to analyst estimates of $174.75 million. Research analysts expect that Orion Group will post 0.2 earnings per share for the current year.

Orion Group Company Profile

Orion Group Holdings, Inc operates as a specialty construction company in the building, industrial, and infrastructure sectors in the United States, Alaska, Hawaii, Canada, and the Caribbean Basin. It operates in two segments, Marine and Concrete. The company provides marine construction services, including construction, restoration, dredging, maintenance, and repair of marine transportation facilities and pipelines, bridges and causeways, and marine environmental structures.