Orion Marine Group Inc. (ORN) Trading 5% Higher
Orion Marine Group Inc. (NYSE:ORN) shares traded up 5% during trading on Wednesday . The company traded as high as $6.18 and last traded at $6.14, with a volume of 53,667 shares. The stock had previously closed at $5.85.
A number of research analysts recently commented on the company. Zacks Investment Research cut Orion Marine Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. DA Davidson upped their price objective on Orion Marine Group from $5.50 to $6.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Imperial Capital upped their price objective on Orion Marine Group from $6.00 to $6.50 and gave the stock an “in-line” rating in a report on Monday, August 8th. Finally, Canaccord Genuity set a $5.50 price objective on Orion Marine Group and gave the stock a “hold” rating in a report on Saturday, August 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Orion Marine Group currently has an average rating of “Hold” and an average price target of $5.65.
The firm’s 50-day moving average is $6.11 and its 200-day moving average is $5.44. The company’s market cap is $169.96 million.
Orion Marine Group (NYSE:ORN) last posted its earnings results on Thursday, August 4th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.01 by $0.04. The company had revenue of $140.30 million for the quarter, compared to analyst estimates of $147.21 million. Orion Marine Group had a negative return on equity of 3.52% and a negative net margin of 1.40%. The firm’s revenue was up 63.0% on a year-over-year basis. During the same period last year, the business earned ($0.07) earnings per share. On average, analysts forecast that Orion Marine Group Inc. will post $0.28 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Spark Investment Management LLC bought a new stake in Orion Marine Group during the second quarter valued at approximately $103,000. True Bearing Asset Management LP bought a new stake in Orion Marine Group during the second quarter valued at approximately $150,000. Teachers Advisors Inc. raised its stake in Orion Marine Group by 4.1% in the second quarter. Teachers Advisors Inc. now owns 48,012 shares of the company’s stock valued at $255,000 after buying an additional 1,896 shares during the period. Rhumbline Advisers raised its stake in Orion Marine Group by 1.1% in the second quarter. Rhumbline Advisers now owns 48,330 shares of the company’s stock valued at $257,000 after buying an additional 546 shares during the period. Finally, Prudential Financial Inc. raised its stake in Orion Marine Group by 3.4% in the first quarter. Prudential Financial Inc. now owns 64,308 shares of the company’s stock valued at $333,000 after buying an additional 2,100 shares during the period. 87.81% of the stock is currently owned by hedge funds and other institutional investors.
Orion Marine Group Company Profile
Orion Group Holdings, Inc, formerly Orion Marine Group, Inc, is engaged in the heavy civil construction project management business. The Company specializes in marine construction. It provides a range of heavy civil marine construction services to federal agencies, state and municipal governments, and private commercial and industrial customers.
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