Saturday, June 25, 2022

A company insider recently bought 30,000 shares of Orbital Energy Group Inc. [OEG]. Should You Buy?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Orbital Energy Group Inc. shares valued at $24,300 were purchased by Cochennet Steve on Jun 21. At $0.81 per share, Cochennet Steve acquired 30,000 shares. The insider’s holdings grew to 251,460 shares worth approximately $0.19 million following the completion of this transaction.

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Also, Cochennet Steve purchased 2,223 shares, netting a total of over 2,267 in proceeds. Following the buying of shares at $1.02 each, the insider now holds 221,460 shares.

Before that, Cochennet Steve had added 27,777 shares to its account. In a trade valued at $27,777, the Director bought Orbital Energy Group Inc. shares for $1.00 each. Upon closing the transaction, the insider’s holdings increased to 27,777 shares, worth approximately $0.16 million.

This represents a 89.43% premium over Thursday’s closing price. Analysts at Alliance Global Partners started covering the stock with ‘”a Buy”‘ outlook in a report released in late February. As of February 10, 2021, B. Riley Securities has increased its “Neutral” rating to a “Buy” for OEG.

Analyzing OEG’s Price Performance

On Thursday, Orbital Energy Group Inc. [NASDAQ: OEG] plunged -1.07% to $0.74. The stock’s lowest price that day was $0.713, but it reached a high of $0.7487 in the same session. During the last five days, there has been a drop of approximately -8.49%. Over the course of the year, Orbital Energy Group Inc. shares have dropped approximately -66.14%. Shares of the company reached a 52-week high of $2.7200 on 03/08/22 and a 52-week low of $0.7130 on 06/23/22. A 50-day SMA is recorded $1.0700, while a 200-day SMA reached $1.9582. Nevertheless, trading volume fell to 2.22 million shares from 2.01 million shares the previous day.

Support And Resistance Levels for Orbital Energy Group Inc. (OEG)

According to the 24-hour chart, there is a support level at 0.7202, which, if violated, would cause prices to drop to 0.6987. In the upper region, resistance lies at 0.7559. The next price resistance is at 0.7701. RSI (Relative Strength Index) is 29.40 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0833, which suggests the price will decrease in the coming days. Percent R is at 90.95%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Orbital Energy Group Inc. subject to short interest?

Stocks of Orbital Energy Group Inc. saw a sharp steep in short interest on May 30, 2022 dropping by -1.02 million shares to 5.02 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 6.04 million shares. A decline of -20.32% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.31 of the overall float, the days-to-cover ratio (short ratio) decline to 4.31.

Which companies own the most shares of Orbital Energy Group Inc. (OEG)?

According to AWM Investment Co., Inc. filings, the company currently owns 3,162,264 shares, which is about 3.31% of the total OEG shares outstanding. The investor’s shares have appreciated by 131,198 from its previous 13-F filing of 3031066.0 shares. With the completion of the buy transaction, G. W. Henssler & Associates Ltd.’s stake is now worth $3,164,340. The Vanguard Group, Inc. reduced a -15.44% interest valued at $2.49 million while BlackRock Fund Advisors purchased a 10,894 stake. A total of 48,839 shares of Orbital Energy Group Inc. were bought by White Pine Capital LLC during the quarter, and 0 were sold by Angelo, Gordon & Co. LP. In its current portfolio, Geode Capital Management LLC holds 596,103 shares valued at $0.65 million.

In terms of Orbital Energy Group Inc. share price expectations, FactSet research, analysts set an average price target of $9.25 in the next 12 months, up nearly 1133.33% from the previous closing price of $0.75. Analysts anticipate Orbital Energy Group Inc. stock to reach $10.00 by 2022, with the lowest price target being $8.50. In spite of this, 2 analysts ranked Orbital Energy Group Inc. stock as a Buy at the end of 2022.

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