NV5 Global (NASDAQ:NVEE) Hits New 12-Month Low – Here’s What Happened

NV5 Global, Inc. (NASDAQ:NVEE) hit a new 52-week low during trading on Tuesday . The company traded as low as $18.43 and last traded at $18.85, with a volume of 15646 shares trading hands. The stock had previously closed at $18.76.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NVEE shares. StockNews.com raised NV5 Global from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th. Robert W. Baird dropped their price objective on NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, November 8th.

NV5 Global Price Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a market capitalization of $1.25 billion, a P/E ratio of 34.03, a PEG ratio of 3.21 and a beta of 1.22. The stock’s fifty day moving average is $21.02 and its 200-day moving average is $22.65.

NV5 Global announced that its board has initiated a stock repurchase program on Monday, January 6th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the business services provider to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other NV5 Global news, VP Richard Tong sold 20,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $20.08, for a total transaction of $401,600.00. Following the completion of the transaction, the vice president now owns 45,584 shares of the company’s stock, valued at $915,326.72. The trade was a 30.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NV5 Global

Institutional investors have recently made changes to their positions in the business. Barclays PLC grew its holdings in NV5 Global by 352.5% in the 3rd quarter. Barclays PLC now owns 23,906 shares of the business services provider’s stock valued at $2,235,000 after buying an additional 18,623 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of NV5 Global by 1.6% in the third quarter. Geode Capital Management LLC now owns 327,042 shares of the business services provider’s stock worth $30,577,000 after acquiring an additional 5,035 shares during the last quarter. American Century Companies Inc. increased its position in NV5 Global by 16.6% during the second quarter. American Century Companies Inc. now owns 456,722 shares of the business services provider’s stock worth $42,461,000 after acquiring an additional 65,186 shares during the period. Inspire Investing LLC raised its stake in NV5 Global by 3.2% during the 2nd quarter. Inspire Investing LLC now owns 3,756 shares of the business services provider’s stock valued at $349,000 after purchasing an additional 115 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in NV5 Global by 7.3% during the 2nd quarter. Rhumbline Advisers now owns 41,939 shares of the business services provider’s stock valued at $3,899,000 after purchasing an additional 2,836 shares during the last quarter. 75.54% of the stock is currently owned by institutional investors.

NV5 Global Company Profile

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.