NV5 Global (NASDAQ:NVEE) Sets New 12-Month Low – What’s Next?

NV5 Global, Inc. (NASDAQ:NVEE) reached a new 52-week low during trading on Thursday . The stock traded as low as $17.90 and last traded at $17.96, with a volume of 178200 shares changing hands. The stock had previously closed at $18.22.

Analysts Set New Price Targets

Several analysts have issued reports on NVEE shares. Robert W. Baird dropped their price target on shares of NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. StockNews.com upgraded shares of NV5 Global from a “hold” rating to a “buy” rating in a research report on Thursday, December 26th.

NV5 Global Trading Down 1.0 %

The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.30. The firm’s 50 day simple moving average is $19.30 and its two-hundred day simple moving average is $21.96. The stock has a market capitalization of $1.17 billion, a P/E ratio of 32.05, a P/E/G ratio of 2.84 and a beta of 1.23.

NV5 Global (NASDAQ:NVEE) last issued its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company had revenue of $250.89 million during the quarter, compared to analysts’ expectations of $250.50 million. NV5 Global had a return on equity of 9.45% and a net margin of 3.86%. During the same period last year, the firm posted $0.38 earnings per share. As a group, analysts forecast that NV5 Global, Inc. will post 1.18 earnings per share for the current fiscal year.

NV5 Global declared that its Board of Directors has approved a share repurchase plan on Monday, January 6th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, VP Richard Tong sold 20,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $20.08, for a total transaction of $401,600.00. Following the sale, the vice president now directly owns 45,584 shares in the company, valued at approximately $915,326.72. The trade was a 30.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NV5 Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Handelsbanken Fonder AB raised its position in NV5 Global by 21.7% during the third quarter. Handelsbanken Fonder AB now owns 2,800 shares of the business services provider’s stock valued at $262,000 after purchasing an additional 500 shares in the last quarter. Blue Trust Inc. lifted its position in NV5 Global by 3,950.0% in the 3rd quarter. Blue Trust Inc. now owns 648 shares of the business services provider’s stock worth $60,000 after buying an additional 632 shares during the last quarter. Inspire Investing LLC grew its position in NV5 Global by 17.6% during the third quarter. Inspire Investing LLC now owns 4,417 shares of the business services provider’s stock valued at $413,000 after acquiring an additional 661 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of NV5 Global by 12.5% during the third quarter. BNP Paribas Financial Markets now owns 6,342 shares of the business services provider’s stock worth $593,000 after acquiring an additional 703 shares in the last quarter. Finally, Versor Investments LP lifted its holdings in shares of NV5 Global by 23.7% in the 3rd quarter. Versor Investments LP now owns 4,206 shares of the business services provider’s stock worth $393,000 after acquiring an additional 806 shares during the last quarter. 75.54% of the stock is currently owned by institutional investors.

About NV5 Global

NV5 Global, Inc provides technology, conformity assessment, consulting solutions, and software applications to public and private sector clients in the infrastructure, utility services, construction, real estate, environmental, and geospatial markets in the United States and internationally. It operates through three segments: Infrastructure; Building, Technology & Sciences; and Geospatial Solutions.