Orion (NYSE:OEC) Shares Cross Above 50-Day Moving Average – Here’s What Happened

Orion S.A. (NYSE:OEC)’s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $5.43 and traded as high as $6.51. Orion shares last traded at $6.4440, with a volume of 735,183 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Orion from $9.00 to $5.00 and set an “underweight” rating for the company in a research note on Friday, November 28th. UBS Group increased their price target on Orion from $5.50 to $6.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Zacks Research cut shares of Orion from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Orion in a research report on Thursday, January 22nd. Finally, Mizuho set a $6.00 price target on Orion in a research note on Monday, October 20th. One research analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Strong Sell” and a consensus price target of $5.67.

Orion Trading Up 2.3%

The company has a market cap of $361.83 million, a PE ratio of -11.11 and a beta of 1.07. The company has a current ratio of 1.08, a quick ratio of 0.64 and a debt-to-equity ratio of 1.69. The firm has a fifty day moving average of $5.43 and a two-hundred day moving average of $7.33.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its holdings in Orion by 321.8% in the second quarter. Tower Research Capital LLC TRC now owns 7,382 shares of the specialty chemicals company’s stock worth $77,000 after buying an additional 5,632 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Orion during the first quarter valued at approximately $137,000. Glenmede Investment Management LP bought a new position in shares of Orion during the third quarter valued at $89,000. Police & Firemen s Retirement System of New Jersey grew its stake in shares of Orion by 18.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 13,687 shares of the specialty chemicals company’s stock worth $144,000 after acquiring an additional 2,112 shares during the period. Finally, Cowa LLC bought a new position in shares of Orion during the 3rd quarter valued at $104,000. 94.33% of the stock is owned by institutional investors.

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.