Orion Group Holdings, Inc. (NYSE:ORN) Short Interest Up 26.8% in June

Orion Group Holdings, Inc. (NYSE:ORN) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 644,100 shares, a growth of 26.8% from the May 31st total of 507,900 shares. Based on an average daily volume of 422,500 shares, the days-to-cover ratio is currently 1.5 days. Currently, 2.1% of the company’s stock are sold short.

Orion Group Stock Performance

Shares of NYSE:ORN traded down $0.13 on Friday, hitting $9.51. 5,844,026 shares of the company were exchanged, compared to its average volume of 406,314. The company’s 50 day moving average price is $8.99 and its two-hundred day moving average price is $7.40. Orion Group has a one year low of $2.70 and a one year high of $11.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.33.

Orion Group (NYSE:ORN) last issued its earnings results on Wednesday, April 24th. The construction company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.06. Orion Group had a negative net margin of 1.59% and a negative return on equity of 4.14%. The business had revenue of $160.67 million for the quarter, compared to analyst estimates of $174.75 million. As a group, sell-side analysts forecast that Orion Group will post 0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ORN has been the topic of several research reports. StockNews.com downgraded shares of Orion Group from a “buy” rating to a “hold” rating in a report on Friday, April 26th. B. Riley boosted their price objective on shares of Orion Group from $9.50 to $12.50 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Finally, Craig Hallum initiated coverage on shares of Orion Group in a report on Tuesday, May 14th. They set a “buy” rating and a $14.00 price objective on the stock.

Insider Activity

In related news, Director Austin J. Shanfelter sold 40,000 shares of Orion Group stock in a transaction on Monday, May 20th. The shares were sold at an average price of $9.01, for a total value of $360,400.00. Following the transaction, the director now owns 437,734 shares in the company, valued at approximately $3,943,983.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Gordon Scott Thanisch bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were purchased at an average price of $7.12 per share, for a total transaction of $28,480.00. Following the acquisition, the chief financial officer now directly owns 167,811 shares of the company’s stock, valued at approximately $1,194,814.32. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Austin J. Shanfelter sold 40,000 shares of Orion Group stock in a transaction on Monday, May 20th. The stock was sold at an average price of $9.01, for a total transaction of $360,400.00. Following the completion of the transaction, the director now owns 437,734 shares in the company, valued at approximately $3,943,983.34. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 8,560 shares of company stock worth $60,995. 7.30% of the stock is owned by corporate insiders.

Institutional Trading of Orion Group

Institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC acquired a new stake in shares of Orion Group during the 1st quarter valued at about $41,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Orion Group during the 1st quarter valued at about $83,000. AJOVista LLC acquired a new stake in shares of Orion Group during the 4th quarter valued at about $51,000. Tower Research Capital LLC TRC boosted its position in shares of Orion Group by 2,851.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,448 shares of the construction company’s stock valued at $52,000 after acquiring an additional 10,094 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Orion Group during the 4th quarter valued at about $82,000. 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.