ENGlobal Corporation [ENG] Revenue clocked in at $64.40 million, down -25.00% YTD: What’s Next?

ENGlobal Corporation [NASDAQ: ENG] loss -25.00% or -0.8 points to close at $2.40 with a heavy trading volume of 2090805 shares. The company report on May 6, 2021 that ENGlobal Announces 1Q 2021 Financial Results.

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Investor Conference Call Scheduled at 9:00 am Eastern.

ENGlobal Corporation (NASDAQ:ENG), a leading provider of complete project solutions for renewable and traditional energy, announced that, for the first quarter of 2021 ended March 27, it achieved net income of $46,000, or $.00 per share, on revenue of $12,449,000, compared to net income of $1,101,000, or $.04 per share, on revenue of $19,260,000 in the first quarter ended March 28, 2020.

It opened the trading session at $3.03, the shares rose to $3.05 and dropped to $2.33, the range by which the price of stock traded the whole day. The daily chart for ENG points out that the company has recorded 188.97% gains over the past six months. However, it is still -247.83% lower than its most recent low trading price.

If we look at the average trading volume of 1.19M shares, ENG reached to a volume of 2090805 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 0.32, with the Price to Sales ratio for ENG stock in the period of the last 12 months amounting to 1.09. The Price to Book ratio for the last quarter was 4.80, with the Price to Cash per share for the same quarter was set at 0.47.

Trading performance analysis for ENG stock

ENGlobal Corporation [ENG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -33.88. With this latest performance, ENG shares dropped by -43.93% in over the last four-week period, additionally plugging by 188.97% over the last 6 months – not to mention a rise of 141.13% 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 23.76, with the RSI for the last a single of trading hit 15.06, and the three-weeks RSI is set at 30.74 for ENGlobal Corporation [ENG]. The present Moving Average for the last 50 days of trading for this stock 4.28, while it was recorded at 3.13 for the last single week of trading, and 2.95 for the last 200 days.

ENGlobal Corporation [ENG]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and ENGlobal Corporation [ENG] shares currently have an operating margin of -0.59 and a Gross Margin at +12.42. ENGlobal Corporation’s Net Margin is presently recorded at -0.97.

Return on Total Capital for ENG is now -1.98, given the latest momentum, and Return on Invested Capital for the company is -3.85. Return on Equity for this stock declined to -4.52, with Return on Assets sitting at -2.08. When it comes to the capital structure of this company, ENGlobal Corporation [ENG] has a Total Debt to Total Equity ratio set at 63.05. Additionally, ENG Total Debt to Total Capital is recorded at 38.67, with Total Debt to Total Assets ending up at 27.80. Long-Term Debt to Equity for the company is recorded at 24.52, with the Long-Term Debt to Total Capital now at 15.04.

Reflecting on the efficiency of the workforce at the company, ENGlobal Corporation [ENG] managed to generate an average of -$2,593 per employee. Receivables Turnover for the company is 4.72 with a Total Asset Turnover recorded at a value of 2.14.ENGlobal Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.10.

An analysis of insider ownership at ENGlobal Corporation [ENG]

There are presently around $11 million, or 18.00% of ENG stock, in the hands of institutional investors. The top three institutional holders of ENG stocks are: OPPENHEIMER & CLOSE, LLC with ownership of 1,069,400, which is approximately 0.944% of the company’s market cap and around 13.90% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 501,388 shares of the stock with an approximate value of $1.6 million in ENG stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $1.6 million in ENG stock with ownership of nearly New of the company’s market capitalization.

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Positions in ENGlobal Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 19 institutional holders increased their position in ENGlobal Corporation [NASDAQ:ENG] by around 972,413 shares. Additionally, 10 investors decreased positions by around 1,096,121 shares, while 4 investors held positions by with 1,332,262 shares. The mentioned changes placed institutional holdings at 3,400,796 shares, according to the latest SEC report filing. ENG stock had 12 new institutional investments in for a total of 701,342 shares, while 4 institutional investors sold positions of 645,750 shares during the same period.

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