NV5 Global (NASDAQ:NVEE) Sets New 1-Year Low – What’s Next?

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NVEE. StockNews.com raised NV5 Global from a “hold” rating to a “buy” rating in a research report on Thursday, December 26th. Robert W. Baird lowered their price objective 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.

NV5 Global Stock Down 0.7 %

The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 33.12, a PEG ratio of 3.21 and a beta of 1.22. 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 has a fifty day moving average of $21.19 and a two-hundred day moving average of $22.71.

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

Insider Activity at NV5 Global

In other NV5 Global news, VP Richard Tong sold 20,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $20.08, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.40% of the stock is owned by insiders.

Hedge Funds Weigh In On NV5 Global

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in shares of NV5 Global by 3,950.0% during the third quarter. Blue Trust Inc. now owns 648 shares of the business services provider’s stock valued at $60,000 after purchasing an additional 632 shares during the last quarter. Net Worth Advisory Group bought a new position in shares of NV5 Global during the third quarter valued at approximately $211,000. Handelsbanken Fonder AB grew its holdings in shares of 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 during the last quarter. Point72 Asset Management L.P. bought a new position in shares of NV5 Global during the second quarter valued at approximately $307,000. Finally, Commonwealth Equity Services LLC grew its holdings in NV5 Global by 5.1% in 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 in the last quarter. 75.54% of the stock is 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.