Orion180 Insurance Group (NASDAQ:OIG) Shares Gap Down – Here’s Why

Orion180 Insurance Group Inc. (NASDAQ:OIG) gapped down prior to trading on Friday. The stock had previously closed at $10.07, but opened at $8.93. Orion180 Insurance Group shares last traded at $8.58, with a volume of 958 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Orion180 Insurance Group in a report on Tuesday, October 13th. They set a “buy” rating and a $13.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Orion180 Insurance Group in a research report on Tuesday, October 13th. They set a “buy” rating and a $12.90 price target for the company. Citizens Jmp began coverage on Orion180 Insurance Group in a research note on Tuesday, October 13th. They issued a “market outperform” rating and a $20.00 price target for the company. Royal Bank Of Canada began coverage on Orion180 Insurance Group in a research report on Tuesday, October 13th. They set an “outperform” rating and a $15.00 price target on the stock. Finally, Wall Street Zen raised Orion180 Insurance Group to a “hold” rating in a research report on Saturday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $14.98.

Orion180 Insurance Group Trading Up 3.1%

Insider Transactions at Orion180 Insurance Group

In other Orion180 Insurance Group news, major shareholder Craig Darling purchased 6,990 shares of Orion180 Insurance Group stock in a transaction that occurred on Tuesday, September 22nd. The stock was acquired at an average price of $10.72 per share, for a total transaction of $74,932.80. Following the completion of the acquisition, the insider owned 5,711,190 shares of the company’s stock, valued at approximately $61,223,956.80. This trade represents a 0.12% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have bought 10,990 shares of company stock valued at $115,797. Company insiders own 2.58% of the company’s stock.

Orion180 Insurance Group Company Profile

Orion180 Insurance Group, Inc is a technology-driven property and casualty insurance company focused primarily on personal lines coverage. Through its insurance subsidiaries, the company provides products designed to protect residential properties and personal belongings, including homeowners, renters and related property insurance offerings.

The company uses proprietary technology and data analytics to support policy underwriting, pricing, distribution and claims management. Orion180 distributes its products through independent insurance agents and other channels, with an emphasis on simplifying the insurance purchasing and servicing experience for customers and agents.

Founded in 2016, Orion180 serves customers in selected U.S.