Short Interest in ENGlobal Co. (NASDAQ:ENG) Drops By 49.2%

ENGlobal Co. (NASDAQ:ENG) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 36,900 shares, a decrease of 49.2% from the February 29th total of 72,700 shares. Based on an average daily volume of 32,300 shares, the short-interest ratio is presently 1.1 days. Currently, 1.0% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of ENGlobal in a report on Wednesday. They set a “sell” rating on the stock.

ENGlobal Price Performance

Shares of NASDAQ:ENG traded down $0.07 during midday trading on Thursday, hitting $1.69. 22,207 shares of the company’s stock were exchanged, compared to its average volume of 31,725. The stock has a 50 day moving average price of $1.58 and a 200-day moving average price of $1.96. The company has a market cap of $8.65 million, a PE ratio of -0.35 and a beta of 1.48. ENGlobal has a 12 month low of $1.01 and a 12 month high of $4.57.

Institutional Investors Weigh In On ENGlobal

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Armistice Capital LLC bought a new stake in ENGlobal in the 1st quarter worth about $1,064,000. Renaissance Technologies LLC grew its position in ENGlobal by 492.9% in the 1st quarter. Renaissance Technologies LLC now owns 250,800 shares of the construction company’s stock worth $120,000 after purchasing an additional 208,500 shares in the last quarter. Vanguard Group Inc. grew its position in ENGlobal by 11.0% in the 3rd quarter. Vanguard Group Inc. now owns 712,666 shares of the construction company’s stock worth $898,000 after purchasing an additional 70,886 shares in the last quarter. Citadel Advisors LLC grew its position in ENGlobal by 31.7% in 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 in the last quarter. Finally, State Street Corp grew its position 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 owned by institutional investors.

ENGlobal Company Profile

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.