NV5 Global (NASDAQ:NVEE) Reaches New 1-Year Low - Time to Sell?
NV5 Global (NASDAQ:NVEE) reached a new 52-week low of $12.12 during trading, closing at $17.92. Analysts have adjusted price targets, with Maxim Group lowering theirs from $29.00 to $24.00, while Roth Mkm raised theirs from $27.00 to $28.00. The company reported a quarterly EPS of $0.28, missing estimates, and announced a $20 million share buyback program. Insider trading showed a VP sold 20,000 shares, reducing their stake by 30.50%. Institutional investors increased their holdings significantly, with 75.54% of shares owned by institutions.
NV5 Global, Inc. (NASDAQ:NVEE - Get Free Report) hit a new 52-week low during trading on Wednesday . The stock traded as low as $12.12 and last traded at $17.92, with a volume of 691 shares traded. The stock had previously closed at $17.77.
Analysts Set New Price Targets
A number of research firms recently weighed in on NVEE. Maxim Group decreased their target price on NV5 Global from $29.00 to $24.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Roth Mkm upped their target price on NV5 Global from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, StockNews.com lowered shares of NV5 Global from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th.
Check Out Our Latest Report on NV5 Global
NV5 Global Stock Performance
The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 36.57, a price-to-earnings-growth ratio of 2.63 and a beta of 1.22. The stock's 50 day moving average is $18.21 and its two-hundred day moving average is $20.81.
NV5 Global (NASDAQ:NVEE - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $246.52 million for the quarter, compared to the consensus estimate of $243.46 million. NV5 Global had a return on equity of 9.34% and a net margin of 3.25%. Analysts expect that NV5 Global, Inc. will post 1.26 earnings per share for the current fiscal year.
NV5 Global announced that its Board of Directors has initiated a share buyback program on Monday, January 6th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.
Insider Activity at NV5 Global
In other NV5 Global news, VP Richard Tong sold 20,000 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $20.08, for a total value of $401,600.00. Following the completion of the transaction, the vice president now directly owns 45,584 shares in the company, valued at approximately $915,326.72. This represents a 30.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.40% of the stock is owned by insiders.
Institutional Trading of NV5 Global
Several institutional investors have recently added to or reduced their stakes in the stock. QV Investors Inc. increased its stake in shares of NV5 Global by 914.2% in the 4th quarter. QV Investors Inc. now owns 48,580 shares of the business services provider's stock valued at $915,000 after acquiring an additional 43,790 shares in the last quarter. Nordea Investment Management AB increased its stake in NV5 Global by 313.3% during the 4th quarter. Nordea Investment Management AB now owns 97,546 shares of the business services provider's stock valued at $1,853,000 after purchasing an additional 73,944 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its stake in shares of NV5 Global by 292.4% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 50,169 shares of the business services provider's stock valued at $945,000 after buying an additional 37,384 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of NV5 Global by 4.1% during the third quarter. JPMorgan Chase & Co. now owns 62,944 shares of the business services provider's stock valued at $5,884,000 after buying an additional 2,483 shares during the last quarter. Finally, Campbell Newman Asset Management Inc. increased its position in shares of NV5 Global by 297.9% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 70,811 shares of the business services provider's stock worth $1,334,000 after acquiring an additional 53,014 shares in the last quarter. 75.54% of the stock is currently owned by institutional investors.
NV5 Global Company Profile
(Get Free Report)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.
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