NV5 Global (NASDAQ:NVEE) Reaches New 52-Week Low – Here’s Why

NV5 Global, Inc. (NASDAQ:NVEE) shares hit a new 52-week low during trading on Monday . The company traded as low as $18.36 and last traded at $18.47, with a volume of 198469 shares trading hands. The stock had previously closed at $18.87.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Robert W. Baird cut their target price on NV5 Global from $26.00 to $25.00 and set a “neutral” rating for the company 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 Stock Performance

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 stock’s fifty day moving average is $20.86 and its two-hundred day moving average is $22.60. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 32.78, a P/E/G ratio of 3.21 and a beta of 1.22.

NV5 Global declared that its board has approved a stock buyback plan on Monday, January 6th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other NV5 Global news, VP Richard Tong sold 20,000 shares of NV5 Global stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $20.08, for a total value of $401,600.00. Following the transaction, the vice president now owns 45,584 shares in the company, valued at $915,326.72. The trade was a 30.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 12.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NVEE. Commonwealth Equity Services LLC lifted its holdings in NV5 Global by 5.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,459 shares of the business services provider’s stock worth $322,000 after buying an additional 167 shares during the period. Rhumbline Advisers grew its holdings in NV5 Global by 7.3% during the 2nd quarter. Rhumbline Advisers now owns 41,939 shares of the business services provider’s stock worth $3,899,000 after acquiring an additional 2,836 shares during the period. Texas Permanent School Fund Corp increased its holdings in NV5 Global by 1.5% in the second quarter. Texas Permanent School Fund Corp now owns 11,296 shares of the business services provider’s stock worth $1,050,000 after purchasing an additional 166 shares in the last quarter. American Century Companies Inc. increased its stake in shares of NV5 Global by 16.6% in the 2nd quarter. American Century Companies Inc. now owns 456,722 shares of the business services provider’s stock valued at $42,461,000 after acquiring an additional 65,186 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of NV5 Global by 2.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 39,510 shares of the business services provider’s stock valued at $3,673,000 after acquiring an additional 863 shares during the period. 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.