ENGlobal Corporation (ENG) lost ground during morning trading on September 22 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the services sector halfway through the trading day. At the lunch break, shares of ENG have fallen 3.43% to $1.63 after closing the day prior at $1.69. So far, the stock has traded as high as $1.71 and as low as $1.63. Today’s decline has come with about 12,592 shares changing hands, compared to an average 30-day volume of 39,091 for ENGlobal Corporation. The price is currently below the 30-day volume weighted average price of $1.68 for ENG.
The share depreciation gives the company a market capitalization of $46.98 million based upon 27.8 million shares outstanding. It also means that ENG has a price-to-book ratio of 1.26:1.
In the past 52 weeks, shares of ENG have traded as low as $0.6821 and as high as $1.7236. Technical traders will take note that at $1.63, shares of ENG are trading above their 200-day MA at $1.15 and above their 50-day MA at $1.37. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is ENG?
ENGlobal Corp is a provider of engineering and other professional project services related to design, fabrication, procurement, maintenance, environmental and other governmental compliance and construction management. The company’s 344 employees are led by CEO William A. Coskey from the corporate headquarters at 654 North Sam Houston Parkway East in Houston, TX.
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