NV5 Global (NASDAQ:NVEE) Hits New 1-Year Low – Here’s What Happened

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Robert W. Baird decreased their price objective on shares of 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 raised NV5 Global from a “hold” rating to a “buy” rating in a report on Thursday, December 26th.

NV5 Global Price 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 company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 3.21 and a beta of 1.22. The stock’s 50-day simple moving average is $20.64 and its two-hundred day simple moving average is $22.53.

NV5 Global announced that its Board of Directors has initiated a share buyback program 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 purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at NV5 Global

In other NV5 Global news, VP Richard Tong sold 20,000 shares of NV5 Global 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NV5 Global

Hedge funds and other institutional investors have recently modified their holdings of the business. QV Investors Inc. raised its holdings in NV5 Global by 914.2% in the 4th quarter. QV Investors Inc. now owns 48,580 shares of the business services provider’s stock valued at $915,000 after acquiring an additional 43,790 shares during the last quarter. Nordea Investment Management AB grew its position in shares of NV5 Global by 313.3% in the fourth quarter. Nordea Investment Management AB now owns 97,546 shares of the business services provider’s stock valued at $1,853,000 after purchasing an additional 73,944 shares in the last quarter. Campbell Newman Asset Management Inc. increased its holdings in shares of NV5 Global by 297.9% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 70,811 shares of the business services provider’s stock valued at $1,334,000 after purchasing an additional 53,014 shares during the last quarter. Barclays PLC increased its holdings in shares of NV5 Global by 352.5% in the third quarter. Barclays PLC now owns 23,906 shares of the business services provider’s stock valued at $2,235,000 after purchasing an additional 18,623 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in NV5 Global by 1.6% during the third quarter. Geode Capital Management LLC now owns 327,042 shares of the business services provider’s stock worth $30,577,000 after buying an additional 5,035 shares in the last quarter. 75.54% of the stock is owned by hedge funds and other 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.