Orion Group (NYSE:ORN) Coverage Initiated at DA Davidson

DA Davidson started coverage on shares of Orion Group (NYSE:ORN - Free Report) in a research report sent to investors on Friday, MarketBeat reports. The firm issued a buy rating and a $11.00 price objective on the construction company's stock.

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

Orion Group Stock Performance

Shares of ORN traded up $0.70 during mid-day trading on Friday, reaching $7.99. The company's stock had a trading volume of 651,434 shares, compared to its average volume of 340,603. The company has a current ratio of 1.35, a quick ratio of 1.33 and a debt-to-equity ratio of 0.24. Orion Group has a 1-year low of $4.87 and a 1-year high of $12.12. The business has a 50-day simple moving average of $7.96 and a two-hundred day simple moving average of $7.47. The stock has a market cap of $310.62 million, a P/E ratio of -19.96, a PEG ratio of 0.97 and a beta of 0.94.

Hedge Funds Weigh In On Orion Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in Orion Group in the 2nd quarter worth about $897,000. Rhumbline Advisers acquired a new stake in shares of Orion Group in the second quarter valued at approximately $349,000. American Century Companies Inc. raised its position in shares of Orion Group by 311.9% in the second quarter. American Century Companies Inc. now owns 453,461 shares of the construction company's stock valued at $4,312,000 after buying an additional 343,368 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Orion Group by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,882,898 shares of the construction company's stock valued at $17,907,000 after buying an additional 46,079 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in Orion Group during the second quarter worth approximately $115,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

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.