ENGlobal Co. (NASDAQ:ENG – Get Rating) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 573,200 shares, a decrease of 25.4% from the March 15th total of 768,600 shares. Based on an average trading volume of 589,500 shares, the days-to-cover ratio is presently 1.0 days. Approximately 2.3% of the shares of the stock are short sold.
Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of ENGlobal by 211.6% during the third quarter. BlackRock Inc. now owns 958,998 shares of the construction company’s stock worth $2,560,000 after purchasing an additional 651,265 shares during the last quarter. Two Sigma Securities LLC bought a new stake in shares of ENGlobal during the third quarter worth $99,000. Squarepoint Ops LLC bought a new stake in shares of ENGlobal during the third quarter worth $62,000. First National Trust Co bought a new stake in shares of ENGlobal during the fourth quarter worth $28,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of ENGlobal during the fourth quarter worth $107,000. Hedge funds and other institutional investors own 11.42% of the company’s stock.
ENGlobal stock traded up $0.04 during mid-day trading on Tuesday, hitting $1.20. 3,686 shares of the company were exchanged, compared to its average volume of 545,696. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $1.29 and a 200 day moving average of $1.60. ENGlobal has a 1-year low of $0.75 and a 1-year high of $3.93. The company has a market capitalization of $42.28 million, a PE ratio of -6.11 and a beta of 1.79.
ENGlobal Corp. engages in the provision of engineered modular solutions to the energy industry. It operates through the following segments: Engineering, Procurement, and Construction Management (EPCM), Automation, and Corporate. The EPCM segment offers services relating to the development, management, and execution of projects requiring professional engineering and related project services primarily to the energy industry throughout the United States.
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