An interesting stock that came up in some of our conversations today is Orion Group Holdings, Inc. (NYSE:ORN). At current price of $2.34, the shares have already lost -0.13 points (-5.26% lower) from its previous close of $2.47. Should you buy or avoid them? The stock sets an active trading volume day with a reported 166350 contracts so far this session. ORN shares had a relatively better volume day versus average trading capacity of 410.37 thousand shares, but with a 27.2 million float and a 10.76% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ORN stock indicates that the average analyst price target is $4.5 per share. This means the stock has a potential increase of 92.31% from where the ORN share price has been trading recently which is between $2.16 and $2.51. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $4.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “DEADLINE MONDAY: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Orion Group Holdings, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm” and dated June 10, 2019.
During the recent trading session for Orion Group Holdings, Inc. (NYSE:ORN), the company witnessed their stock drop by $-0.13 over a week and tumble down $-0.09 from the price 20 days ago. When compared to their established 52-week high of $9.83, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/07/18. The recent low of $1.8 stood for a -76.2% since 05/23/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.97 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Orion Group Holdings, Inc., the two-week RSI stands at 48.73. This figure suggests that ORN stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ORN readings is similarly very revealing as it has a stochastic reading of 71.66% at this stage. This figure means that ORN share price today is being oversold.
Technical chart claims that Orion Group Holdings, Inc. (ORN) would settle between $2.6/share to $2.73/share level. However, if the stock price goes below the $2.25 mark, then the market for Orion Group Holdings, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $2.03 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.04. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at B. Riley FBR lowered their recommendation on shares of ORN from Buy to Neutral in their opinion released on October 19. FBR & Co. analysts again handed out a Buy recommendation to Orion Group Holdings, Inc. (NYSE:ORN) stock but they lifted target price for the shares in a flash note issued to investors on August 18. The target price has been raised from $12 to $10. Analysts at FBR & Co. released an upgrade from Mkt Perform to Outperform for the stock, in a research note that dated back to October 06.
ORN equity has an average rating of 3, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 0 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 0 analysts rated Orion Group Holdings, Inc. (NYSE:ORN) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ORN stock price is currently trading at 9.88X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.33 while for the average stock in the same group, the multiple is 1.42.
Orion Group Holdings, Inc. (ORN)’s current-quarter revenues are projected to climb by nearly -3.96% to hit $153440, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 16.16% from $520890 to a noteworthy $605090. At the other end of the current quarter income statement, Orion Group Holdings, Inc. is expected to see its adjusted earnings surge by roughly -237.5% to hit $-0.11 per share. For the fiscal year, ORN’s earnings are projected to climb by roughly 67.57% to hit $-0.12 per share.