Willdan Group, Inc. (NASDAQ:WLDN) Sees Large Increase in Short Interest

Willdan Group, Inc. (NASDAQ:WLDN) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 431,300 shares, an increase of 45.8% from the March 15th total of 295,800 shares. Currently, 3.4% of the company’s stock are sold short. Based on an average daily trading volume, of 141,600 shares, the days-to-cover ratio is presently 3.0 days.

Insider Activity

In related news, Director Mohammad Shahidehpour sold 2,273 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $39.20, for a total transaction of $89,101.60. Following the completion of the sale, the director now directly owns 12,767 shares of the company’s stock, valued at approximately $500,466.40. This trade represents a 15.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.80% of the company’s stock.

Institutional Investors Weigh In On Willdan Group

A number of institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC bought a new stake in Willdan Group in the third quarter valued at about $15,608,000. JPMorgan Chase & Co. increased its holdings in shares of Willdan Group by 82.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 76,586 shares of the construction company’s stock valued at $3,136,000 after acquiring an additional 34,699 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Willdan Group by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 294,797 shares of the construction company’s stock valued at $12,075,000 after acquiring an additional 1,514 shares in the last quarter. Franklin Resources Inc. bought a new position in Willdan Group during the third quarter worth $351,000. Finally, Barclays PLC increased its stake in Willdan Group by 245.7% during the third quarter. Barclays PLC now owns 17,301 shares of the construction company’s stock valued at $708,000 after purchasing an additional 12,297 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. StockNews.com cut shares of Willdan Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 19th. Wedbush raised Willdan Group to a “strong-buy” rating in a report on Monday, March 10th.

Willdan Group Stock Down 0.3 %

WLDN traded down $0.11 during trading on Friday, hitting $38.48. The company had a trading volume of 98,487 shares, compared to its average volume of 131,596. The company has a market cap of $554.42 million, a PE ratio of 23.61 and a beta of 1.12. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.77 and a quick ratio of 1.77. Willdan Group has a 1-year low of $26.40 and a 1-year high of $50.00. The business has a 50-day moving average of $37.58 and a 200-day moving average of $39.84.

About Willdan Group

Willdan Group, Inc, together with its subsidiaries, provides professional, technical, and consulting services primarily in the United States. It operates in two segments, Energy, and Engineering and Consulting. The Energy segment offers comprehensive audit and surveys, program design and implementation, master planning, demand reduction, grid optimization, benchmarking analyses, design engineering, construction management, performance contracting, installation, alternative financing, measurement and verification services, and software and data analytics, as well as energy consulting and engineering, turnkey facility and infrastructure projects, and customer support services.