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

Orion Group Holdings, Inc. (NYSE:ORN - Get Free Report) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 1,100,000 shares, a decrease of 27.6% from the October 31st total of 1,520,000 shares. Based on an average daily trading volume, of 479,000 shares, the days-to-cover ratio is currently 2.3 days.

Analysts Set New Price Targets

Separately, StockNews.com raised Orion Group from a "hold" rating to a "buy" rating in a research note on Friday, November 1st.

Insider Transactions at Orion Group

In other Orion Group news, EVP Edward Chipman Earle bought 15,633 shares of Orion Group stock in a transaction dated Friday, September 13th. The stock was acquired at an average cost of $6.05 per share, with a total value of $94,579.65. Following the purchase, the executive vice president now directly owns 86,235 shares in the company, valued at $521,721.75. This represents a 22.14 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 7.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ORN. Portolan Capital Management LLC raised 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 purchasing an additional 717,533 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Orion Group in the 3rd quarter worth $2,318,000. American Century Companies Inc. increased its stake in shares of Orion Group by 311.9% in the 2nd quarter. American Century Companies Inc. now owns 453,461 shares of the construction company's stock worth $4,312,000 after acquiring an additional 343,368 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Orion Group in the 3rd quarter worth $1,873,000. Finally, Royce & Associates LP increased its stake in shares of Orion Group by 12.9% in the 3rd quarter. Royce & Associates LP now owns 1,749,785 shares of the construction company's stock worth $10,096,000 after acquiring an additional 200,420 shares during the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Orion Group Price Performance

NYSE ORN traded down $0.05 during mid-day trading on Friday, hitting $8.72. The stock had a trading volume of 164,252 shares, compared to its average volume of 417,792. The firm's 50 day moving average is $6.67 and its 200 day moving average is $7.90. Orion Group has a twelve month low of $4.09 and a twelve month high of $12.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.33. The stock has a market capitalization of $339.21 million, a price-to-earnings ratio of -21.92, a PEG ratio of 3.69 and a beta of 0.80.

Orion Group Company Profile

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.

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