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

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

Institutional Investors Weigh In On ENGlobal

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC raised its stake in shares of ENGlobal by 31.7% in the second quarter. Citadel Advisors LLC now owns 257,861 shares of the construction company’s stock valued at $97,000 after acquiring an additional 62,089 shares during the period. Armistice Capital LLC purchased a new stake in shares of ENGlobal in the first quarter valued at $1,064,000. Renaissance Technologies LLC raised its stake in shares of ENGlobal by 492.9% in the first quarter. Renaissance Technologies LLC now owns 250,800 shares of the construction company’s stock valued at $120,000 after acquiring an additional 208,500 shares during the period. Vanguard Group Inc. raised its stake in shares of ENGlobal by 11.0% in the third quarter. Vanguard Group Inc. now owns 712,666 shares of the construction company’s stock valued at $898,000 after acquiring an additional 70,886 shares during the period. Finally, State Street Corp increased its stake 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 buying an additional 20,500 shares during the period. Hedge funds and other institutional investors own 5.67% of the company’s stock.

Analyst Ratings Changes

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

ENGlobal Stock Performance

ENG stock traded down $0.07 during trading on Thursday, hitting $1.69. 22,207 shares of the company’s stock traded hands, compared to its average volume of 31,725. ENGlobal has a 52 week low of $1.01 and a 52 week high of $4.57. The business has a fifty day simple moving average of $1.58 and a 200 day simple moving average of $1.96. The stock has a market capitalization of $8.65 million, a price-to-earnings ratio of -0.35 and a beta of 1.48.

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.