Orion (NYSE:OEC) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Shares of Orion S.A. (NYSE:OEC) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.62 and traded as low as $6.32. Orion shares last traded at $6.39, with a volume of 464,188 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on OEC shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Orion in a research report on Wednesday, October 8th. Mizuho set a $6.00 price target on Orion in a report on Monday, October 20th. JPMorgan Chase & Co. dropped their target price on Orion from $9.00 to $5.00 and set an “underweight” rating for the company in a report on Friday, November 28th. Zacks Research cut Orion from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 16th. Finally, UBS Group increased their target price on Orion from $5.50 to $6.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Strong Sell” and a consensus target price of $5.67.

Orion Stock Down 0.5%

The firm has a fifty day moving average of $5.22 and a 200-day moving average of $7.59. The company has a quick ratio of 0.64, a current ratio of 1.08 and a debt-to-equity ratio of 1.69. The firm has a market cap of $358.80 million, a P/E ratio of -11.02 and a beta of 1.07.

Orion (NYSE:OEC) last posted its quarterly earnings results on Tuesday, November 4th. The specialty chemicals company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). Orion had a positive return on equity of 14.90% and a negative net margin of 1.74%.The business had revenue of $450.90 million for the quarter, compared to the consensus estimate of $453.45 million. During the same quarter in the previous year, the business posted $0.47 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Orion S.A. will post 1.73 earnings per share for the current year.

Institutional Investors Weigh In On Orion

Several hedge funds have recently bought and sold shares of OEC. Tower Research Capital LLC TRC increased its stake in shares of Orion by 321.8% during the second quarter. Tower Research Capital LLC TRC now owns 7,382 shares of the specialty chemicals company’s stock worth $77,000 after purchasing an additional 5,632 shares during the period. Glenmede Investment Management LP acquired a new stake in shares of Orion during the third quarter worth $89,000. SG Americas Securities LLC acquired a new stake in shares of Orion during the fourth quarter worth $91,000. Cowa LLC acquired a new position in shares of Orion in the third quarter valued at about $104,000. Finally, AXQ Capital LP grew its stake in shares of Orion by 20.9% in the third quarter. AXQ Capital LP now owns 14,337 shares of the specialty chemicals company’s stock valued at $109,000 after acquiring an additional 2,474 shares in the last quarter. 94.33% of the stock is currently owned by institutional investors and hedge funds.

Orion Company Profile

Orion Engineered Carbons SA, operating as Orion (NYSE: OEC), is a global producer of carbon black, a critical performance additive used to enhance the strength, durability and conductivity of various materials. The company’s products chiefly serve the tire and rubber industry, where carbon black imparts wear resistance and longevity, as well as the plastics, coatings, inks and battery components markets, where specialty grades deliver tailored conductivity and color properties.

Orion’s product portfolio is organized into two core segments: Rubber and Specialty and Chemical Specialties.