Short Interest in NV5 Global, Inc. (NASDAQ:NVEE) Rises By 362.5%

NV5 Global, Inc. (NASDAQ:NVEE) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totalling 1,670,000 shares, a growth of 362.5% from the September 30th total of 361,100 shares. Based on an average trading volume of 362,700 shares, the days-to-cover ratio is presently 4.6 days.

NV5 Global Stock Down 0.5 %

Shares of NVEE stock traded down $0.12 during mid-day trading on Friday, reaching $21.88. 261,412 shares of the company’s stock traded hands, compared to its average volume of 324,312. NV5 Global has a 12 month low of $21.54 and a 12 month high of $28.75. The company has a market cap of $1.42 billion, a P/E ratio of 43.11, a P/E/G ratio of 1.28 and a beta of 1.17. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $23.12 and its 200-day moving average price is $23.46.

NV5 Global (NASDAQ:NVEE) last announced its earnings results on Wednesday, August 7th. The business services provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. NV5 Global had a net margin of 3.49% and a return on equity of 9.08%. The firm had revenue of $236.33 million for the quarter, compared to analysts’ expectations of $235.58 million. During the same quarter in the previous year, the business posted $0.32 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts expect that NV5 Global will post 1.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NV5 Global news, Director Tardan Francois sold 6,644 shares of NV5 Global stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $24.08, for a total transaction of $159,987.52. Following the transaction, the director now directly owns 20,600 shares of the company’s stock, valued at approximately $496,048. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 12.40% of the company’s stock.

Institutional Trading of NV5 Global

Hedge funds have recently modified their holdings of the business. Innealta Capital LLC bought a new stake in shares of NV5 Global during the 2nd quarter valued at $44,000. Blue Trust Inc. raised its position 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 worth $60,000 after purchasing an additional 632 shares during the last quarter. Net Worth Advisory Group purchased a new position in shares of NV5 Global in the 3rd quarter worth about $211,000. SG Americas Securities LLC purchased a new position in shares of NV5 Global in the 1st quarter worth about $228,000. Finally, Handelsbanken Fonder AB raised its position 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 last quarter. Institutional investors own 75.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVEE. StockNews.com cut shares of NV5 Global from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. Roth Mkm reiterated a “buy” rating and issued a $32.50 price target (up previously from $32.00) on shares of NV5 Global in a report on Thursday, August 8th.

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.