Wall Street analysts’ outlook for Orbital Energy Group Inc. (OIG)

Orbital Energy Group Inc. (NASDAQ: OIG) stock fell -0.63% on Wednesday to $0.50 against a previous-day closing price of $0.51. With 2.24 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.45 million shares. During the session, the Engineering & Construction company that operates in wider Industrials sector, reached to the highest price of $0.5480 whereas the lowest price it dropped to was $0.4920. The 52-week range on OIG shows that it touched its highest point at $3.32 and its lowest point at $0.49 during that stretch. It currently has a 1-year price target of $4.00. Beta for the stock currently stands at 1.30.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of OIG was down-trending over the past week, with a drop of -8.21%, but this was down by -41.34% over a month. Three-month performance dropped to -19.82% while six-month performance fell -72.56%. The stock lost -83.70% in the past year, while it has lost -77.07% so far this year. A look at the trailing 12-month EPS for OIG yields -1.10 with Next year EPS estimates of -0.07. For the next quarter, that number is -0.11. This implies an EPS growth rate of 15.70% for this year and 92.60% for next year. EPS is expected to grow by 25.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -19.70%.

Float and Shares Shorts:

At present, 115.48 million OIG shares are outstanding with a float of 98.30 million shares on hand for trading. In addition to Mr. William J. Clough Esq. as the firm’s Exec. Chairman, Pres & Chief Legal Officer, Mr. James Francis O’Neil III serves as its Vice Chairman & CEO.

Institutional Ownership:

Through their ownership of 18.76% of OIG’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.02% of OIG, in contrast to 4.53% held by mutual funds. Shares owned by individuals account for 2.67%. As the largest shareholder in OIG with 2.81% of the stake, The Vanguard Group, Inc. holds 3,238,980 shares worth 3,238,980. A second-largest stockholder of OIG, G. W. Henssler & Associates Ltd., holds 2,808,374 shares, controlling over 2.43% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in OIG, holding 1,157,863 shares or 1.00% stake. With a 2.08% stake in OIG, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,398,886 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.99% of OIG stock, is the second-largest Mutual Fund holder. It holds 1,143,479 shares valued at 0.91 million. AlphaMark Actively Managed Small holds 0.52% of the stake in OIG, owning 600,000 shares worth 0.48 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OIG since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With OIG analysts setting a high price target of $4.00 and a low target of $4.00, the average target price over the next 12 months is $4.00. Based on these targets, OIG could surge 700.0% to reach the target high and rise by 700.0% to reach the target low. Reaching the average price target will result in a growth of 700.0% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. OIG will report FY 2022 earnings on 03/15/2023. Analysts have provided yearly estimates in a range of -$0.94 being high and -$0.94 being low. For OIG, this leads to a yearly average estimate of -$0.94. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Orbital Energy Group Inc. surprised analysts by $0.14 when it reported -$0.32 EPS against a consensus estimate of -$0.46. Based on analyst estimates, the high estimate for the next quarter is -$0.11 and the low estimate is -$0.11. The average estimate for the next quarter is thus -$0.11.

Summary of Insider Activity:

Insiders traded OIG stock several times over the past three months with 6 Buys and 0 Sells. In these transactions, 119,046 shares were bought while 0 shares were sold. The number of buy transactions has increased to 33 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 1,329,636 while 75,000 shares were sold.

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