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 company 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 Ratings Changes

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

NV5 Global Price Performance

The company has a market capitalization of $1.21 billion, a P/E ratio of 33.12, a PEG ratio of 3.21 and a beta of 1.22. The stock’s fifty day simple moving average is $21.19 and its 200-day simple moving average is $22.71. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.05 and a quick ratio of 2.05.

NV5 Global announced that its board has authorized a stock repurchase 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 generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, VP Richard Tong sold 20,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $20.08, for a total transaction of $401,600.00. Following the sale, the vice president now directly owns 45,584 shares in the company, valued at $915,326.72. This represents 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. Corporate insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On NV5 Global

A number of large investors have recently bought and sold shares of NVEE. Redwood Grove Capital LLC bought a new stake in NV5 Global during the 3rd quarter worth approximately $12,599,000. Swedbank AB grew its position in NV5 Global by 27.3% during the 3rd quarter. Swedbank AB now owns 350,000 shares of the business services provider’s stock worth $32,718,000 after acquiring an additional 75,000 shares during the last quarter. Nordea Investment Management AB lifted its holdings 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 worth $1,853,000 after buying an additional 73,944 shares in the last quarter. Oak Ridge Investments LLC lifted its holdings in NV5 Global by 287.2% during the 3rd quarter. Oak Ridge Investments LLC now owns 98,124 shares of the business services provider’s stock worth $9,173,000 after buying an additional 72,780 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in NV5 Global by 16.6% during the 2nd quarter. American Century Companies Inc. now owns 456,722 shares of the business services provider’s stock worth $42,461,000 after buying an additional 65,186 shares in the last quarter. 75.54% of the stock is currently 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.