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

Orion Group Holdings, Inc. (NYSE:ORN) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 819,300 shares, a growth of 21.9% from the February 28th total of 672,200 shares. Currently, 2.3% of the company’s stock are short sold. Based on an average daily volume of 425,600 shares, the short-interest ratio is presently 1.9 days.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ORN shares. StockNews.com cut shares of Orion Group from a “buy” rating to a “hold” rating in a research report on Sunday, March 23rd. DA Davidson began coverage on shares of Orion Group in a research note on Friday, January 17th. They issued a “buy” rating and a $11.00 price target on the stock. Finally, B. Riley upgraded shares of Orion Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 18th.

Institutional Investors Weigh In On Orion Group

Several hedge funds have recently made changes to their positions in ORN. Intech Investment Management LLC purchased a new stake in Orion Group during the 3rd quarter valued at approximately $63,000. Quantbot Technologies LP purchased a new stake in shares of Orion Group during the third quarter worth approximately $120,000. BNP Paribas Financial Markets lifted its holdings in shares of Orion Group by 1,140.6% during the third quarter. BNP Paribas Financial Markets now owns 73,235 shares of the construction company’s stock worth $423,000 after purchasing an additional 67,332 shares during the period. Verition Fund Management LLC purchased a new position in Orion Group in the 3rd quarter valued at $199,000. Finally, Portolan Capital Management LLC increased its stake in 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 valued at $11,455,000 after buying an additional 717,533 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Orion Group Stock Performance

ORN traded up $0.10 during trading on Wednesday, hitting $5.42. 96,206 shares of the stock were exchanged, compared to its average volume of 416,012. The company has a quick ratio of 1.33, a current ratio of 1.35 and a debt-to-equity ratio of 0.24. Orion Group has a 1-year low of $4.85 and a 1-year high of $12.12. The stock has a fifty day moving average price of $6.89 and a two-hundred day moving average price of $7.05. The firm has a market capitalization of $211.33 million, a P/E ratio of -13.55, a PEG ratio of 1.10 and a beta of 0.93.

Orion Group (NYSE:ORN) last announced its earnings results on Tuesday, March 4th. The construction company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Orion Group had a negative net margin of 1.63% and a negative return on equity of 0.71%. The business had revenue of $216.88 million for the quarter, compared to analysts’ expectations of $271.70 million. During the same period in the previous year, the company posted $0.08 EPS. As a group, sell-side analysts predict that Orion Group will post 0.06 earnings per share for the current year.

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.