Orion Group (NYSE:ORN) Stock Passes Above 200-Day Moving Average – Here’s Why

Orion Group Holdings, Inc. (NYSE:ORN) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.71 and traded as high as $7.73. Orion Group shares last traded at $7.53, with a volume of 142,449 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Orion Group from a “hold” rating to a “buy” rating in a report on Friday, November 1st.

Orion Group Stock Down 3.5 %

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 has a market cap of $292.92 million, a PE ratio of -18.82, a PEG ratio of 3.44 and a beta of 0.89. The stock’s 50 day moving average price is $7.66 and its 200-day moving average price is $7.71.

Institutional Investors Weigh In On Orion Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC bought a new stake in Orion Group in the third quarter valued at approximately $63,000. SG Americas Securities LLC bought a new stake in Orion Group in the 3rd quarter worth $67,000. Valmark Advisers Inc. purchased a new position in shares of Orion Group in the second quarter valued at about $107,000. The Manufacturers Life Insurance Company bought a new position in shares of Orion Group during the second quarter valued at about $115,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Orion Group during the third quarter worth about $120,000. Institutional investors 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.