NV5 Global (NASDAQ:NVEE) Trading 2.8% Higher - Time to Buy?

Shares of NV5 Global, Inc. (NASDAQ:NVEE - Get Free Report) rose 2.8% during mid-day trading on Wednesday . The company traded as high as $19.02 and last traded at $19.02. Approximately 77,043 shares traded hands during trading, a decline of 78% from the average daily volume of 343,108 shares. The stock had previously closed at $18.50.

Wall Street Analysts Forecast Growth

NVEE has been the subject of a number of research analyst reports. Robert W. Baird cut their target price 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 upgraded NV5 Global from a "hold" rating to a "buy" rating in a research note on Thursday, December 26th.

NV5 Global Stock Up 3.5 %

The business's fifty day simple moving average is $21.11 and its 200 day simple moving average is $22.68. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 3.21 and a beta of 1.22.

NV5 Global declared that its Board of Directors has authorized a share buyback program on Monday, January 6th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the business services provider to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Insider Transactions at NV5 Global

In related news, VP Richard Tong sold 20,000 shares of the firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $20.08, for a total value of $401,600.00. Following the transaction, the vice president now owns 45,584 shares in the company, valued at approximately $915,326.72. This trade represents a 30.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.40% of the stock is owned by insiders.

Institutional Investors Weigh In On NV5 Global

A number of institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in shares of NV5 Global by 3,950.0% in the 3rd quarter. Blue Trust Inc. now owns 648 shares of the business services provider's stock valued at $60,000 after buying an additional 632 shares during the period. Net Worth Advisory Group bought a new position in NV5 Global during the third quarter valued at about $211,000. Handelsbanken Fonder AB raised its holdings in shares of NV5 Global by 21.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,800 shares of the business services provider's stock worth $262,000 after purchasing an additional 500 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of NV5 Global during the 2nd quarter valued at $307,000. Finally, Commonwealth Equity Services LLC boosted its position in NV5 Global by 5.1% during the second quarter. Commonwealth Equity Services LLC now owns 3,459 shares of the business services provider's stock worth $322,000 after purchasing an additional 167 shares during the period. Institutional investors own 75.54% of the company's stock.

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.