Orion Group Holdings Inc (NYSE:ORN) Sees Large Increase in Short Interest

Orion Group Holdings Inc (NYSE:ORN) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 122,500 shares, an increase of 27.7% from the January 15th total of 95,900 shares. Based on an average trading volume of 163,400 shares, the short-interest ratio is presently 0.7 days. Approximately 0.4% of the shares of the company are short sold.

Shares of ORN opened at $4.69 on Friday. The company has a market cap of $146.57 million, a P/E ratio of -1.34 and a beta of 1.08. The stock has a fifty day moving average price of $5.05 and a 200 day moving average price of $4.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.41 and a quick ratio of 1.41. Orion Group has a 12 month low of $1.80 and a 12 month high of $5.99.

Several equities research analysts recently issued reports on the company. Zacks Investment Research lowered Orion Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. ValuEngine raised Orion Group from a “sell” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Noble Financial reissued a “buy” rating and set a $7.10 price target on shares of Orion Group in a research report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $6.36.

A number of institutional investors and hedge funds have recently modified their holdings of ORN. Taylor Cottrill Erickson & Associates Inc. grew its holdings in shares of Orion Group by 19.0% during the 3rd quarter. Taylor Cottrill Erickson & Associates Inc. now owns 25,100 shares of the construction company’s stock worth $113,000 after purchasing an additional 4,000 shares during the period. California Public Employees Retirement System grew its holdings in shares of Orion Group by 5.8% during the 3rd quarter. California Public Employees Retirement System now owns 267,800 shares of the construction company’s stock worth $1,205,000 after purchasing an additional 14,700 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Orion Group by 9.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,819,644 shares of the construction company’s stock worth $21,688,000 after purchasing an additional 432,321 shares during the period. Squarepoint Ops LLC grew its holdings in shares of Orion Group by 9.0% during the 3rd quarter. Squarepoint Ops LLC now owns 50,963 shares of the construction company’s stock worth $229,000 after purchasing an additional 4,211 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Orion Group by 1,207.8% during the 3rd quarter. Millennium Management LLC now owns 699,125 shares of the construction company’s stock worth $3,146,000 after purchasing an additional 645,667 shares during the period. Hedge funds and other institutional investors own 70.50% 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 continental United States, Alaska, Canada, and the Caribbean Basin. It operates in two segments, Marine and Concrete. The company's marine construction services include construction, restoration, dredging, maintenance, and repair of marine transportation facilities and pipelines, bridges and causeways, and marine environmental structures.

Further Reading: Price to Earnings Ratio (PE) Basics

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