ENGlobal (NASDAQ:ENG) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of ENGlobal (NASDAQ:ENG) in a report released on Wednesday. The brokerage set a “sell” rating on the construction company’s stock.

ENGlobal Stock Performance

NASDAQ:ENG opened at $1.69 on Wednesday. The company has a fifty day moving average of $1.58 and a two-hundred day moving average of $1.96. ENGlobal has a fifty-two week low of $1.01 and a fifty-two week high of $4.57. The stock has a market capitalization of $8.65 million, a PE ratio of -0.35 and a beta of 1.48.

Institutional Investors Weigh In On ENGlobal

Several large investors have recently bought and sold shares of the company. Citadel Advisors LLC boosted its stake in 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 during the last quarter. Armistice Capital LLC acquired a new position in ENGlobal during the first quarter worth about $1,064,000. Renaissance Technologies LLC grew its stake in ENGlobal by 492.9% during the 1st 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 in the last quarter. Vanguard Group Inc. raised its holdings in 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 last quarter. Finally, State Street Corp lifted its stake in ENGlobal by 36.9% in 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 in the last quarter. 5.67% of the stock is currently owned by hedge funds and other institutional investors.

About ENGlobal

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.