Orion Group Holdings, Inc. (NYSE:ORN) is one of the stocks that are grabbing investor focus today: skyrocketing 3.49% or (0.2 points) to $5.93 from its previous close of $5.73. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 120637 contracts so far this session. ORN shares had a relatively better volume day versus average trading capacity of 155.22 thousand shares, but with a 27.75 million float and a 13.47% 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 $7.05 per share. This means the stock has a potential increase of 18.89% from where the ORN share price has been trading recently.
During the recent trading session for Orion Group Holdings, Inc. (NYSE:ORN), the company witnessed their stock rise $0.95 over a week and surge $0.77 from the price 20 days ago. When compared to their established 52-week high of $5.94, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/15/20. The recent low of $1.8 stood for a 0% 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 1.05 is also allocated to the stock. Since the beta is greater 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 67.6. 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 96.56% 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 $5.81/share to $5.9/share level. However, if the stock price goes below the $5.59 mark, then the market for Orion Group Holdings, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $5.46 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.39. 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 raised their recommendation on shares of ORN from Neutral to Buy in their opinion released on July 08. B. Riley FBR analysts have lowered their rating of Orion Group Holdings, Inc. (NYSE:ORN) stock from Buy to Neutral in a separate flash note issued to investors on October 19. Analysts at FBR & Co. are sticking to their Buy stance. However, on August 18, they lifted price target for these shares to $10 from $12.
ORN equity has an average rating of 2.46, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 2 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. 2 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 29.69X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 15.4. Orion Group Holdings, Inc. current P/B ratio of 1.2 means it is trading at a discount against its industry’s 1.9.
Orion Group Holdings, Inc. (ORN)’s current-quarter revenues are projected to climb by nearly 65% to hit $163720, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 29.1% from $520890 to a noteworthy $672320. At the other end of the current quarter income statement, Orion Group Holdings, Inc. is expected to see its adjusted earnings surge by roughly 103.6% to hit $0.01 per share. For the fiscal year, ORN’s earnings are projected to climb by roughly 18.2% to hit $-0.18 per share.