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Thursday, September 21, 2023

Can We Expect More Volatility From ENGlobal Corporation (ENG)?

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ENGlobal Corporation (ENG) shares are trading at higher $2.27.

To add more color to this target, the company’s high over the last year is $4.32 and the low is $0.46. Over the last 52 weeks, ENG is up 120.39% while the S&P 500 is up 17.22%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, ENG reported a profit of $1.14 million. ENGlobal Corporation also saw revenues increase to $15.73 million. In addition, ENG has free cash flow of -$1.96 million as of 09-2020. The company’s EBITDA came in at -$0.92 million which compares well with its peers.

ENG booked profit margins of 1.20%, its Return on Equity (ROE) is 5.40%, and its Return on Assets is 2.60%. All told, it is clear that, ENG needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. ENG has a short ratio of 0.07 and outstanding shares of 27.51M.

Company Outlook

ENG has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 2.17 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.03. ENGlobal Corporation ENG also noted assets of $32.95 million at the end of the last quarter. Investors should also keep an eye on sector updates as ENG has historically followed its peers on positive news.

All told, ENGlobal Corporation ENG has strung together solid data and demonstrated underlying fundamentals. At its current valuation, ENG represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

ENGlobal Corporation ENG is now commanding a market cap of 54.55M and a float of 15.65M. ENG is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of ENG stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in ENG, either long or short, and we have not been compensated for this article.

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