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

StockNews.com began coverage on shares of ENGlobal (NASDAQ:ENG) in a research note released on Wednesday. The firm issued a sell rating on the construction company’s stock.

ENGlobal Stock Up 7.8 %

Shares of ENG stock opened at $1.79 on Wednesday. The stock has a 50-day simple moving average of $1.58 and a 200 day simple moving average of $1.96. The stock has a market capitalization of $9.16 million, a P/E ratio of -0.37 and a beta of 1.48. ENGlobal has a fifty-two week low of $1.01 and a fifty-two week high of $4.57.

Hedge Funds Weigh In On ENGlobal

A number of hedge funds have recently modified their holdings of ENG. Renaissance Technologies LLC purchased a new stake in ENGlobal during the fourth quarter valued at about $33,000. State Street Corp lifted its holdings in shares of ENGlobal by 36.9% in the second quarter. State Street Corp now owns 76,019 shares of the construction company’s stock valued at $72,000 after purchasing an additional 20,500 shares in the last quarter. Citadel Advisors LLC grew its holdings in shares of ENGlobal by 31.7% during the second quarter. Citadel Advisors LLC now owns 257,861 shares of the construction company’s stock valued at $97,000 after buying an additional 62,089 shares in the last quarter. Vanguard Group Inc. lifted its stake 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 acquiring an additional 70,886 shares in the last quarter. Finally, Armistice Capital LLC acquired a new position in ENGlobal in the 1st quarter valued at approximately $1,064,000. 5.67% of the stock is currently owned by institutional investors and hedge funds.

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.