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Two people are confirmed dead and two others are missing after an underwater gas pipeline exploded when it was struck by a dredging boat in the Port of Corpus Christi, TX.
Six others working on the vessel were hospitalized after the Friday incident that sent flames several hundred feet into the air and forced the partial closure of the port. Enterprise Products (NYSE:EPD) owns the ruptured pipeline, which was holding propane gas at the time of the explosion.
Early estimates indicate the accident caused the release of 5K lbs. of propane and 5K lbs. of carbon monoxide. The barge that struck the pipeline reportedly was owned by marine construction contractor Orion Group Holdings (NYSE:ORN).
Does it make sense that they posted earnings of .80 a share, or is IT A MISTAKEN REPORT?
Looking over the 8K published late yesterday, it doesn’t look quite as impressive. Although my expectations were pretty low this Q so still not bad, have to wait for the CC and 10Q.
Very good numbers looks like given backlog and one times. I'll be curious to see how the shares react tomorrow given the big run up I've been selling into. Wouldn't surprise me if it keeps going higher.
News: $ORN Orion Group Holdings, Inc. Schedules 2019 Second Quarter News Release for Wednesday, July 31st and Conference Call for Thursday, August 1st
Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”), a leading specialty construction company, today announced that it will issue its financial results for the second quarter ended June 30, 2019 on Wednesday, July 31, 2019, after the close of the stock market. ORN’...
In case you are interested Orion Group Holdings, Inc. Schedules 2019 Second Quarter News Release for Wednesday, July 31st and Conference Call for Thursday, August 1st
If it breaks $3,90, which I think it will. I might have to buy buy buy at $3.20 after it tanks
Pre-Market Movers$VISL $FRAN $GHSI $SINT $CHAC $YTRA $ORN $HMY $IGLD $TRNX $AMD @BlazeCapital @SuperLuckeee @MelanieNix1 @AllStreetsWolf @TheStockSnipers @TradeSmartStock @WhiteRhinoCo@MicroCap_Stocks#DayTrading #daytrade #SwingTrading #swingtrade #StockMarket #investor pic.twitter.com/QuPXoCwl23
— Phase 1 Trading LLC (@Phase1Trading) July 17, 2019
Whats the price target now is the question.
Wow! This contract announce is nice but what is with the massive surge? I’ll take it.
I've been selling. Was a great buy in the $1.8s but has run fairly far fairly quickly. Still could be a decent turnaround play if their record backlog starts yielding better margins in the next couple/few quarters so I'm still holding a few.
Orion Group Holdings on a bull run.
HAVING RECEIVED A BULLISH UPGRADE TO $5 THE STOCK RALLIED 18% IN WHAT WAS A PRETTY POOR DAY IN THE MARKET. IT WILL BE ADDED TO THE WATCHLIST FOR CONTINUATION, ALTHOUGH IT IS OVERBOUGHT AS A RESULT OF THE RECENT RALLY.
AVERAGE PRICE TARGET $5.55
AVERAGE RECOMMENDATION OVERWEIGHT
COMPANY PROFILE
Orion Group Holdings , Inc. engages in the provision of specialty construction services in the building, industrial, and infrastructure sectors. It operates through the Marine and Concrete segments. The Marine segment includes the restoration, maintenance, dredging, and repair of marine transportation facilities; pipelines, bridges, and causeways; and environmental structures. The Concrete segment involves cement pouring for products such as columns, elevated beams, sidewalks, ramps, and tilt walls. The company was founded in 1994 and is headquartered in Houston, TX .
This has been a nice little rocket. I’ve sold off a fair amount of it with the quick 60%+ gains but keeping some to see if the turnaround works out.
New institutional holder recently too.
They had over 4 mill shares as of end of March 2019. The filing I showed you had less than 2 mill shares. Hence they sold over 2 mill shares. That’s why I loaded up in the $1.8s.
All that massive dumping created a wonderful buying opportunity (rare in this market).
All in my opinion only.
PS- all that rain in Texas can’t be helping too much. Can’t seem to catch a meaningful extended break on the weather front.
I didn't read that in the filing, I read it as a statement they nearly own and have acquired almost 2 million of the just over 29 million available shares and have to report as being over 5% owners, institutional at that. Soon earnings will show a profit, imo.
See, Blackrock dumped over 2 million shares:
https://www.sec.gov/Archives/edgar/data/1402829/000021545719008055/0000215457-19-008055-index.htm
Glad the bigs let me feast on their throwaway food.
Not at all the case. Most of those shares probably were traded between institutions although some of us were able to load up on Thursday when it got booted out of the S&P 600 (what drove the big volume and declines).
All IMO only.
New CFO bought a few (small amount) more shares Tuesday:
https://www.insider-monitor.com/insider_stock_purchases-2.html
I already flipped almost half my position from last week.
Lots of insider buying last Friday:
https://www.insider-monitor.com/insider_stock_purchases-3.html
News: $ORN Orion Group Holdings Inc. Announces a Contract Award of Approximately $25 Million
HOUSTON, May 28, 2019 (GLOBE NEWSWIRE) -- Orion Group Holdings, Inc. (NYSE: ORN) (the "Company") a leading specialty construction company, today announced a contract award of approximately $25 million. The Company’s Marine segment has been awarded the Fairview Avenue North bridge ...
Read the whole news https://marketwirenews.com/news-releases/orion-group-holdings-inc-announces-a-contract-award-of-approximately-25-million-8254004.html
Something fishy here, the finra data for reported volume does not match up, yesterday over 6 million shares traded and only has 57,000 reported with over 43,000 reported as short so almost all yesterday's volume is what is classically called a naked short, just unreported, this is the worst kind of shorting and illegal to do, looking at reports for other days and same thing, volumes don't match what is being reported to finra.
Clearly this stock is manipulated by a short attack, looking at Finra reg/ sho over 50% short daily, what tard sells this with that news out, we are talking about a 600% increase in marine work and the Seattle work will be Union work from local 196, best construction workers on planet earth, also profit margins much larger in the Pacific Northwest let's say 20% on 160 mil that's like 30 million$ and that doesn't count the change orders, nice to see them get work over seas and with chevron says a lot since the oil collapse no more Caldive bankrupt so overseas work going to Orion we may see that backlog hit 880 million and in short order.
ORN is going to bounce back huge.
News: $ORN Orion Group Holdings, Inc. Announces Contract Awards of Approximately $35 Million
HOUSTON, April 17, 2019 (GLOBE NEWSWIRE) -- Orion Group Holdings, Inc. (NYSE: ORN) (the "Company") a leading specialty construction company, today announced the award of multiple contracts with a total value of approximately $35 million. The Company’s Marine segment, has recently ...
Read the whole news https://marketwirenews.com/news-releases/orion-group-holdings-inc-announces-contract-awards-of-approximately-35-million-8014106.html
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