ENGlobal Corporation [ENG] is -4.69% lower this YTD. Is it still time to buy?

ENGlobal Corporation [NASDAQ: ENG] closed the trading session at $3.05 on 06/09/21. The day’s price range saw the stock hit a low of $2.83, while the highest price level was $3.20. The company report on June 2, 2021 that ENGlobal Announces $20 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules.

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ENGlobal Corporation (NASDAQ:ENG) (“ENGlobal” or the “Company”), a leading provider of complete project solutions for renewable and traditional energy, announced it has entered into a securities purchase agreement with institutional investors for the purchase and sale of 7,142,859 shares of its common stock at a purchase price of $2.80 per share in a registered direct offering priced at-the-market under Nasdaq rules. The closing of the offering is expected to occur on or about June 4, 2021, subject to the satisfaction of customary closing conditions.

A.G.P./Alliance Global Partners is acting as sole placement agent for the offering.

The stocks have a year to date performance of -4.69 percent and weekly performance of 7.02 percent. The stock has been moved at 34.36 percent over the last six months. The stock has performed 30.90 percent around the most recent 30 days and changed -32.52 percent over the most recent 3-months.

If compared to the average trading volume of 1.43M shares, ENG reached to a volume of 8007080 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 0.36, with the Price to Sales ratio for ENG stock in the period of the last 12 months amounting to 1.54. The Price to Book ratio for the last quarter was 6.10, with the Price to Cash per share for the same quarter was set at 0.48. Price to Free Cash Flow for ENG in the course of the last twelve months was 126.88 with Quick ratio for the last quarter at 2.00.

ENG stock trade performance evaluation

ENGlobal Corporation [ENG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.02. With this latest performance, ENG shares gained by 30.90% in over the last four-week period, additionally plugging by 34.36% over the last 6 months – not to mention a rise of 152.07% 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 52.93, with the RSI for the last a single of trading hit 57.23, and the three-weeks RSI is set at 49.61 for ENGlobal Corporation [ENG]. The present Moving Average for the last 50 days of trading for this stock 3.22, while it was recorded at 2.86 for the last single week of trading, and 3.12 for the last 200 days.

ENGlobal Corporation [ENG]: An insightful look at the core fundamentals

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 2.00 and a Current Ratio set at 2.00.

ENGlobal Corporation [ENG]: Insider Ownership positions

There are presently around $10 million, or 17.70% of ENG stock, in the hands of institutional investors. The top three institutional holders of ENG stocks are: OPPENHEIMER & CLOSE, LLC with ownership of 1,069,100, which is approximately -0.028% of the company’s market cap and around 3.00% of the total institutional ownership; VANGUARD GROUP INC, holding 575,101 shares of the stock with an approximate value of $1.75 million in ENG stocks shares; and BLACKROCK INC., currently with $0.98 million in ENG stock with ownership of nearly 2151.88% 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 22 institutional holders increased their position in ENGlobal Corporation [NASDAQ:ENG] by around 1,083,246 shares. Additionally, 13 investors decreased positions by around 1,100,393 shares, while 5 investors held positions by with 1,192,668 shares. The mentioned changes placed institutional holdings at 3,376,307 shares, according to the latest SEC report filing. ENG stock had 13 new institutional investments in for a total of 403,511 shares, while 5 institutional investors sold positions of 633,039 shares during the same period.

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