Shares of NV5 Global, Inc. (NASDAQ:NVEE – Get Free Report) shot up 2.8% during trading on Wednesday . The company traded as high as $19.02 and last traded at $19.02. 77,043 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 343,108 shares. The stock had previously closed at $18.50.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on NVEE. StockNews.com upgraded shares of NV5 Global from a “hold” rating to a “buy” rating in a research report on Thursday, December 26th. Robert W. Baird lowered their price target on NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, November 8th.
NV5 Global Stock Up 4.4 %
NV5 Global declared that its Board of Directors has initiated a share buyback plan on Monday, January 6th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the business services provider to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
Insider Buying and Selling
In related news, VP Richard Tong sold 20,000 shares of NV5 Global stock in a transaction on Friday, December 13th. The shares were sold at an average price of $20.08, for a total transaction of $401,600.00. Following the transaction, the vice president now owns 45,584 shares in the company, valued at approximately $915,326.72. The trade was a 30.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.40% of the stock is currently owned by insiders.
Institutional Investors Weigh In On NV5 Global
Institutional investors and hedge funds have recently bought and sold shares of the business. Redwood Grove Capital LLC purchased a new stake in shares of NV5 Global during the third quarter worth about $12,599,000. Swedbank AB lifted its stake in NV5 Global by 27.3% in the 3rd quarter. Swedbank AB now owns 350,000 shares of the business services provider’s stock worth $32,718,000 after purchasing an additional 75,000 shares in the last quarter. Nordea Investment Management AB lifted its stake in NV5 Global by 313.3% in the 4th quarter. Nordea Investment Management AB now owns 97,546 shares of the business services provider’s stock worth $1,853,000 after purchasing an additional 73,944 shares in the last quarter. Oak Ridge Investments LLC boosted its holdings in shares of NV5 Global by 287.2% during the 3rd quarter. Oak Ridge Investments LLC now owns 98,124 shares of the business services provider’s stock valued at $9,173,000 after purchasing an additional 72,780 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of NV5 Global by 16.6% during the second quarter. American Century Companies Inc. now owns 456,722 shares of the business services provider’s stock valued at $42,461,000 after purchasing an additional 65,186 shares in the last quarter. 75.54% of the stock is owned by institutional investors.
About NV5 Global
NV5 Global, Inc provides technology, conformity assessment, consulting solutions, and software applications to public and private sector clients in the infrastructure, utility services, construction, real estate, environmental, and geospatial markets in the United States and internationally. It operates through three segments: Infrastructure; Building, Technology & Sciences; and Geospatial Solutions.
Further Reading
- Five stocks we like better than NV5 Global
- Dividend Capture Strategy: What You Need to Know
- Moderna Shares Spike on H5N1 News—What’s Next for Investors?
- What Investors Need to Know About Upcoming IPOs
- Nebius Group (NBIS): A Small-Cap Backed by NVIDIA
- Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
- Natural Gas Demand to Surge: Top 3 Stocks and ETFs to Consider
Receive News & Ratings for NV5 Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NV5 Global and related companies with MarketBeat.com's FREE daily email newsletter.