Orbital Infrastructure Group Inc. (NASDAQ: OIG) stock fell -2.96% on Monday to $0.19 against a previous-day closing price of $0.20. With 2.17 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.2 million shares. During the session, the Engineering & Construction company that operates in wider Industrials sector, reached to the highest price of $0.2074 whereas the lowest price it dropped to was $0.1866. The 52-week range on OIG shows that it touched its highest point at $2.72 and its lowest point at $0.15 during that stretch. It currently has a 1-year price target of $1.50. Beta for the stock currently stands at 1.09.
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 -13.10%, but this was up by 9.72% over a month. Three-month performance dropped to -54.02% while six-month performance fell -64.57%. The stock lost -89.15% in the past year, while it has lost -1.98% so far this year. A look at the trailing 12-month EPS for OIG yields -2.16 with Next year EPS estimates of -0.09. For the next quarter, that number is -0.05. This implies an EPS growth rate of 15.70% for this year and 95.60% 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, 140.57 million OIG shares are outstanding with a float of 122.49 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.16 million, which was 1.87% higher than short shares on Sep 14, 2022. 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.
Through their ownership of 16.01% of OIG’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.15% of OIG, in contrast to 3.23% held by mutual funds. Shares owned by individuals account for 2.89%. As the largest shareholder in OIG with 2.58% of the stake, The Vanguard Group, Inc. holds 3,621,490 shares worth 3,621,490. A second-largest stockholder of OIG, Angelo, Gordon & Co. LP, holds 2,688,028 shares, controlling over 1.91% of the firm’s shares. G. W. Henssler & Associates Ltd. is the third largest shareholder in OIG, holding 2,496,574 shares or 1.78% stake. With a 1.71% 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 0.82% of OIG stock, is the second-largest Mutual Fund holder. It holds 1,149,227 shares valued at 0.23 million. Fidelity Extended Market Index Fu holds 0.26% of the stake in OIG, owning 365,924 shares worth 72087.0.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OIG since 2 analysts follow the stock currently. There are 2 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 $2.00 and a low target of $1.00, the average target price over the next 12 months is $1.50. Based on these targets, OIG could surge 952.63% to reach the target high and rise by 426.32% to reach the target low. Reaching the average price target will result in a growth of 689.47% 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 02/28/2024. Analysts have provided yearly estimates in a range of -$2.03 being high and -$2.06 being low. For OIG, this leads to a yearly average estimate of -$2.04. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Orbital Infrastructure Group Inc. surprised analysts by -$1.16 when it reported -$1.23 EPS against a consensus estimate of -$0.07. The surprise factor in the prior quarter was $0.14. Based on analyst estimates, the high estimate for the next quarter is -$0.03 and the low estimate is -$0.07. The average estimate for the next quarter is thus -$0.05.
Summary of Insider Activity:
Insiders traded OIG stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 29 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 1,395,564 while 0 shares were sold.