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

Orion Group Holdings Inc (NYSE:ORN) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 1,070,980 shares, a growth of 58.0% from the March 29th total of 677,809 shares. Approximately 3.9% of the company’s stock are short sold. Based on an average trading volume of 220,993 shares, the short-interest ratio is currently 4.8 days.

Shares of NYSE ORN traded down $0.05 during midday trading on Friday, hitting $2.30. The stock had a trading volume of 136,900 shares, compared to its average volume of 185,839. The company has a market cap of $70.35 million, a PE ratio of -6.22 and a beta of 1.02. Orion Group has a 52 week low of $2.28 and a 52 week high of $9.83. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.39 and a current ratio of 1.40.

Orion Group (NYSE:ORN) last issued its earnings results on Thursday, May 9th. The construction company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.05). Orion Group had a negative return on equity of 9.60% and a negative net margin of 20.19%. The firm had revenue of $143.11 million during the quarter, compared to the consensus estimate of $126.76 million. On average, analysts forecast that Orion Group will post -0.3 earnings per share for the current fiscal year.

ORN has been the topic of several research reports. TheStreet lowered shares of Orion Group from a “c-” rating to a “d” rating in a research note on Tuesday, April 9th. B. Riley dropped their target price on shares of Orion Group from $7.00 to $4.00 and set a “neutral” rating on the stock in a research note on Friday, March 29th. Finally, Zacks Investment Research downgraded shares of Orion Group from a “hold” rating to a “sell” rating in a research note on Saturday, March 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $6.69.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund purchased a new position in shares of Orion Group during the fourth quarter valued at approximately $47,000. SG Americas Securities LLC raised its holdings in shares of Orion Group by 42.9% during the first quarter. SG Americas Securities LLC now owns 16,374 shares of the construction company’s stock valued at $48,000 after purchasing an additional 4,914 shares during the last quarter. Magnus Financial Group LLC purchased a new position in shares of Orion Group during the fourth quarter valued at approximately $74,000. Taylor Cottrill Erickson & Associates Inc. raised its holdings in shares of Orion Group by 38.2% during the fourth quarter. Taylor Cottrill Erickson & Associates Inc. now owns 18,100 shares of the construction company’s stock valued at $78,000 after purchasing an additional 5,000 shares during the last quarter. Finally, New York State Teachers Retirement System raised its holdings in shares of Orion Group by 28.8% during the fourth quarter. New York State Teachers Retirement System now owns 18,337 shares of the construction company’s stock valued at $79,000 after purchasing an additional 4,100 shares during the last quarter. 93.91% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This article was originally published by Rockland Register and is the property of of Rockland Register. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://rocklandregister.com/2019/05/18/orion-group-holdings-inc-orn-short-interest-update.html.

Orion Group Company Profile

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.

Featured Story: What are defining characteristics of a correction?

Receive News & Ratings for Orion Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orion Group and related companies with MarketBeat.com's FREE daily email newsletter.