NV5 Global (NASDAQ:NVEE) Hits New 12-Month Low – What’s Next?

NV5 Global, Inc. (NASDAQ:NVEE) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $12.12 and last traded at $17.92, with a volume of 691 shares traded. The stock had previously closed at $17.77.

Analyst Upgrades and Downgrades

Several research analysts have commented on NVEE shares. StockNews.com lowered NV5 Global from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Maxim Group cut their price target on NV5 Global from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, Roth Mkm lifted their price target on NV5 Global from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, February 21st.

NV5 Global Stock Up 1.3 %

The firm has a 50 day simple moving average of $18.17 and a two-hundred day simple moving average of $20.77. The company has a market capitalization of $1.15 billion, a PE ratio of 35.82, a P/E/G ratio of 2.63 and a beta of 1.22. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.30.

NV5 Global (NASDAQ:NVEE) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). NV5 Global had a net margin of 3.25% and a return on equity of 9.34%. The company had revenue of $246.52 million during the quarter, compared to analysts’ expectations of $243.46 million. Research analysts expect that NV5 Global, Inc. will post 1.26 EPS for the current year.

NV5 Global declared that its Board of Directors 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 often a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. QV Investors Inc. grew its stake in shares of 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 purchasing an additional 43,790 shares during the last quarter. Nordea Investment Management AB boosted its stake 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 buying an additional 73,944 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its stake in shares of NV5 Global by 292.4% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 50,169 shares of the business services provider’s stock valued at $945,000 after buying an additional 37,384 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of NV5 Global by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 62,944 shares of the business services provider’s stock valued at $5,884,000 after buying an additional 2,483 shares in the last quarter. Finally, Campbell Newman Asset Management Inc. boosted its stake 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 buying an additional 53,014 shares in the last quarter. 75.54% of the stock is currently owned by hedge funds and other 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.