Orion Group (NYSE:ORN) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Shares of Orion Group Holdings, Inc. (NYSE:ORN) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.26 and traded as high as $7.36. Orion Group shares last traded at $7.24, with a volume of 306,126 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. DA Davidson assumed coverage on shares of Orion Group in a report on Friday, January 17th. They issued a “buy” rating and a $11.00 price objective on the stock. StockNews.com raised shares of Orion Group from a “hold” rating to a “buy” rating in a report on Friday, November 1st.

Orion Group Stock Performance

The stock has a market cap of $281.64 million, a price-to-earnings ratio of -18.10, a PEG ratio of 1.10 and a beta of 0.93. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.33 and a current ratio of 1.35. The company’s 50 day simple moving average is $7.70 and its 200 day simple moving average is $7.26.

Hedge Funds Weigh In On Orion Group

Several hedge funds have recently made changes to their positions in ORN. Portolan Capital Management LLC grew its stake in shares of Orion Group by 56.6% in the 3rd quarter. Portolan Capital Management LLC now owns 1,985,355 shares of the construction company’s stock worth $11,455,000 after purchasing an additional 717,533 shares during the last quarter. CenterBook Partners LP acquired a new position in shares of Orion Group in the 4th quarter worth approximately $4,695,000. Wellington Management Group LLP acquired a new position in shares of Orion Group in the 3rd quarter worth approximately $2,318,000. Hillsdale Investment Management Inc. acquired a new position in shares of Orion Group in the 4th quarter worth approximately $2,907,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Orion Group in the 3rd quarter worth approximately $1,873,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

About Orion Group

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.