ENGlobal Corporation [NASDAQ: ENG] price surged by 46.63 percent to reach at $0.39. The company report on August 25, 2020 that ENGlobal Issues Progress Report on Modular Hydrogen Plant for Renewable Energy Facility, First of Its Type Produced in U.S..
ENGlobal Corporation (NASDAQ:ENG), a leading provider of engineered modular solutions, today issued a progress report on the company’s contract signed last November to engineer and fabricate a complete hydrogen production facility. This modular process plant will consume approximately 20 percent less feed and fuel gas than conventional hydrogen plants, permitting substantially lower operating costs and a far smaller carbon index.
The engineering and detailed design phase of the hydrogen facility, which will consist of 24 modules and additional supporting structure and pipe supplied by ENGlobal, is expected to be completed by November 2020. The project is currently entering the module fabrication phase, during which all process modules are scheduled to be tested and shipped. This phase is expected to be completed by May 2021.
A sum of 10240470 shares traded at recent session while its average daily volume was at 247.38K shares. ENGlobal Corporation shares reached a high of $1.33 and dropped to a low of $0.8337 until finishing in the latest session at $1.22.
Guru’s Opinion on ENGlobal Corporation [ENG]:
KeyBanc Capital Mkts have made an estimate for ENGlobal Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on August 21, 2012. While these analysts kept the previous recommendation, Lazard Capital Mkts dropped their target price from $7 to $6. The new note on the price target was released on March 17, 2009, representing the official price target for ENGlobal Corporation stock. On August 08, 2008, analysts increased their price target for ENG shares from 16 to 20.
The Average True Range (ATR) for ENGlobal Corporation is set at 0.10, with the Price to Sales ratio for ENG stock in the period of the last 12 months amounting to 0.52. The Price to Book ratio for the last quarter was 2.18, with the Price to Cash per share for the same quarter was set at 0.50.
ENG Stock Performance Analysis:
ENGlobal Corporation [ENG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 42.03. With this latest performance, ENG shares gained by 50.67% in over the last four-week period, additionally plugging by 60.53% over the last 6 months – not to mention a rise of 16.19% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ENG stock in for the last two-week period is set at 72.84, with the RSI for the last a single of trading hit 80.08, and the three-weeks RSI is set at 67.63 for ENGlobal Corporation [ENG]. The present Moving Average for the last 50 days of trading for this stock 0.9172, while it was recorded at 0.9101 for the last single week of trading, and 0.9526 for the last 200 days.
Insight into ENGlobal Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and ENGlobal Corporation [ENG] shares currently have an operating margin of -2.48 and a Gross Margin at +13.33. ENGlobal Corporation’s Net Margin is presently recorded at -2.60.
Return on Total Capital for ENG is now -8.75, given the latest momentum, and Return on Invested Capital for the company is -9.47. Return on Equity for this stock declined to -9.93, with Return on Assets sitting at -5.68. When it comes to the capital structure of this company, ENGlobal Corporation [ENG] has a Total Debt to Total Equity ratio set at 17.82. Additionally, ENG Total Debt to Total Capital is recorded at 15.12, with Total Debt to Total Assets ending up at 8.54. Long-Term Debt to Equity for the company is recorded at 10.40, with the Long-Term Debt to Total Capital now at 8.82.
Reflecting on the efficiency of the workforce at the company, ENGlobal Corporation [ENG] managed to generate an average of -$5,841 per employee. Receivables Turnover for the company is 3.91 with a Total Asset Turnover recorded at a value of 2.19.ENGlobal Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.20.
ENGlobal Corporation [ENG] Insider Position Details
There are presently around $4 million, or 23.20% of ENG stock, in the hands of institutional investors. The top three institutional holders of ENG stocks are: OPPENHEIMER & CLOSE, LLC with ownership of 1,029,400, which is approximately 5.081% of the company’s market cap and around 4.10% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 740,307 shares of the stock with an approximate value of $0.9 million in ENG stocks shares; and ESSEX INVESTMENT MANAGEMENT CO LLC, currently with $0.75 million in ENG stock with ownership of nearly 0% of the company’s market capitalization.
Positions in ENGlobal Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 9 institutional holders increased their position in ENGlobal Corporation [NASDAQ:ENG] by around 353,558 shares. Additionally, 5 investors decreased positions by around 27,275 shares, while 7 investors held positions by with 2,892,179 shares. The mentioned changes placed institutional holdings at 3,273,012 shares, according to the latest SEC report filing. ENG stock had 4 new institutional investments in for a total of 66,606 shares, while 2 institutional investors sold positions of 24,967 shares during the same period.