Orion Group Holdings, Inc. (NYSE:ORN) Sees Large Decline in Short Interest

Orion Group Holdings, Inc. (NYSE:ORN) saw a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 684,700 shares, a drop of 19.6% from the December 31st total of 851,300 shares. Based on an average daily trading volume, of 412,700 shares, the short-interest ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ORN shares. StockNews.com raised shares of Orion Group from a “hold” rating to a “buy” rating in a report on Friday, November 1st. DA Davidson initiated coverage on shares of Orion Group in a research report on Friday, January 17th. They set a “buy” rating and a $11.00 target price on the stock.

Hedge Funds Weigh In On Orion Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Portolan Capital Management LLC boosted its holdings 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 purchased a new stake in shares of Orion Group in the 3rd quarter valued at approximately $2,318,000. Harbor Capital Advisors Inc. acquired a new stake in Orion Group during the 3rd quarter worth approximately $1,873,000. Royce & Associates LP lifted its holdings in Orion Group by 12.9% during the 3rd quarter. Royce & Associates LP now owns 1,749,785 shares of the construction company’s stock worth $10,096,000 after buying an additional 200,420 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Orion Group by 930.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 134,570 shares of the construction company’s stock valued at $776,000 after purchasing an additional 121,507 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Orion Group Price Performance

ORN traded down $0.09 on Monday, reaching $7.80. 293,287 shares of the company’s stock were exchanged, compared to its average volume of 443,657. The stock has a market cap of $303.23 million, a PE ratio of -19.49, a P/E/G ratio of 1.13 and a beta of 0.93. Orion Group has a twelve month low of $5.23 and a twelve month high of $12.12. The stock’s fifty day moving average price is $7.91 and its 200-day moving average price is $7.33. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.33.

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.