Orion Marine Group Inc. (ORN) Sees Large Volume Increase
Shares of Orion Marine Group Inc. (NYSE:ORN) saw unusually-strong trading volume on Wednesday . Approximately 103,967 shares traded hands during mid-day trading, an increase of 28% from the previous session’s volume of 81,504 shares.The stock last traded at $6.04 and had previously closed at $6.19.
Several equities research analysts have recently weighed in on ORN shares. Zacks Investment Research lowered Orion Marine Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 20th. DA Davidson upped their price objective on Orion Marine Group from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Friday, August 5th. FBR & Co reiterated a “hold” rating on shares of Orion Marine Group in a research note on Tuesday, May 10th. Imperial Capital upped their price objective on Orion Marine Group from $6.00 to $6.50 and gave the company an “in-line” rating in a research note on Monday. Finally, Canaccord Genuity set a $5.50 price objective on Orion Marine Group and gave the company a “hold” rating in a research note on Saturday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $6.38.
The company has a 50-day moving average of $5.54 and a 200 day moving average of $4.90. The firm’s market cap is $173.28 million.
Orion Marine Group (NYSE:ORN) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.04. The business had revenue of $140.30 million for the quarter, compared to analysts’ expectations of $147.21 million. During the same period in the previous year, the business earned ($0.07) EPS. The firm’s revenue was up 63.0% on a year-over-year basis. On average, analysts anticipate that Orion Marine Group Inc. will post $0.28 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Orion Marine Group stock. Russell Frank Co increased its stake in Orion Marine Group Inc. (NYSE:ORN) by 20.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 551,222 shares of the company’s stock after buying an additional 94,742 shares during the period. Russell Frank Co owned 2.02% of Orion Marine Group worth $2,359,000 at the end of the most recent reporting period.
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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