NV5 Global (NASDAQ:NVEE) Hits New 52-Week Low - What's Next?

NV5 Global, Inc. (NASDAQ:NVEE - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $18.43 and last traded at $18.85, with a volume of 15646 shares trading hands. The stock had previously closed at $18.76.

Analysts Set New Price Targets

Several research analysts recently issued reports on NVEE shares. StockNews.com raised shares of NV5 Global from a "hold" rating to a "buy" rating in a report on Thursday, December 26th. Robert W. Baird cut their price objective on NV5 Global from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, November 8th.

NV5 Global Trading Down 1.4 %

The company has a market capitalization of $1.20 billion, a PE ratio of 32.89, a P/E/G ratio of 3.21 and a beta of 1.22. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.05 and a current ratio of 2.05. The business has a fifty day moving average price of $21.19 and a 200 day moving average price of $22.71.

NV5 Global announced that its Board of Directors has initiated a stock repurchase plan on Monday, January 6th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the business services provider to repurchase 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 shares are undervalued.

Insider Activity at NV5 Global

In other NV5 Global news, VP Richard Tong sold 20,000 shares of the business's 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 completion of the sale, the vice president now owns 45,584 shares in the company, valued at $915,326.72. The trade was a 30.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.40% of the company's stock.

Hedge Funds Weigh In On NV5 Global

Several large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in NV5 Global by 7.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 582,927 shares of the business services provider's stock valued at $54,195,000 after acquiring an additional 39,350 shares during the last quarter. American Century Companies Inc. increased its holdings in NV5 Global by 16.6% in the second 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 during the last quarter. Geneva Capital Management LLC lifted its position in shares of NV5 Global by 1.3% in the third quarter. Geneva Capital Management LLC now owns 432,721 shares of the business services provider's stock worth $40,451,000 after buying an additional 5,757 shares during the last quarter. Swedbank AB lifted 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. Finally, Geode Capital Management LLC increased its position in NV5 Global by 1.6% in the 3rd 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 during the period. Institutional investors and hedge funds own 75.54% of the company's stock.

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.