ENGlobal (NASDAQ:ENG) Raised to Hold at ValuEngine

ValuEngine upgraded shares of ENGlobal (NASDAQ:ENG) from a sell rating to a hold rating in a research note released on Thursday, ValuEngine reports.

ENG traded down $0.02 on Thursday, reaching $1.04. 61,500 shares of the stock were exchanged, compared to its average volume of 98,593. The company’s 50-day moving average price is $1.01 and its 200 day moving average price is $0.97. ENGlobal has a fifty-two week low of $0.48 and a fifty-two week high of $1.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.21 and a current ratio of 2.47.

ENGlobal (NASDAQ:ENG) last issued its quarterly earnings results on Tuesday, November 12th. The construction company reported ($0.03) EPS for the quarter. ENGlobal had a negative return on equity of 38.39% and a negative net margin of 10.47%. The firm had revenue of $13.97 million for the quarter.

An institutional investor recently bought a new position in ENGlobal stock. River & Mercantile Asset Management LLP purchased a new position in shares of ENGlobal Corp (NASDAQ:ENG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 607,816 shares of the construction company’s stock, valued at approximately $547,000. River & Mercantile Asset Management LLP owned 2.22% of ENGlobal as of its most recent filing with the Securities and Exchange Commission. 9.85% of the stock is currently owned by hedge funds and other institutional investors.

ENGlobal Company Profile

ENGlobal Corporation provides engineering and professional services primarily to the energy industry in the United States and internationally. The company operates through two segments, Engineering, Procurement and Construction Management (EPCM); and Automation. The EPCM segment offers services relating to the development, management, and execution of projects requiring professional engineering and related project management services primarily to the energy industry, which include conceptual studies, project definition, cost estimating, engineering design, environmental compliance, material procurement, project management, and construction management.

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