ENGlobal (NASDAQ:ENG) Earns Sell Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of ENGlobal (NASDAQ:ENG) in a report published on Wednesday morning. The brokerage issued a sell rating on the construction company’s stock.

ENGlobal Stock Performance

NASDAQ ENG opened at $1.79 on Wednesday. The stock has a market cap of $9.16 million, a price-to-earnings ratio of -0.37 and a beta of 1.48. ENGlobal has a 52-week low of $1.01 and a 52-week high of $4.57. The business has a 50 day simple moving average of $1.58 and a 200 day simple moving average of $1.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Citadel Advisors LLC raised its stake in shares of ENGlobal by 31.7% during the 2nd quarter. Citadel Advisors LLC now owns 257,861 shares of the construction company’s stock worth $97,000 after purchasing an additional 62,089 shares in the last quarter. Armistice Capital LLC bought a new stake in ENGlobal during the first quarter worth $1,064,000. Renaissance Technologies LLC lifted its stake in ENGlobal by 492.9% in the first quarter. Renaissance Technologies LLC now owns 250,800 shares of the construction company’s stock valued at $120,000 after acquiring an additional 208,500 shares during the last quarter. Vanguard Group Inc. grew its position in shares of ENGlobal by 11.0% in the 3rd quarter. Vanguard Group Inc. now owns 712,666 shares of the construction company’s stock valued at $898,000 after acquiring an additional 70,886 shares during the period. Finally, State Street Corp increased its stake in shares of ENGlobal by 36.9% during the 2nd quarter. State Street Corp now owns 76,019 shares of the construction company’s stock worth $72,000 after purchasing an additional 20,500 shares during the last quarter. 5.67% of the stock is owned by institutional investors and hedge funds.

ENGlobal Company Profile

ENGlobal Corporation provides engineering and professional project execution services primarily to the energy sector in the United States and internationally. It operates through two ENGlobal Corporation provides engineering and professional project execution services primarily to the energy sector in the United States and internationally.