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

Key Points

• Willdan Group, Inc. experienced a substantial increase in short interest, rising by 36.9% in August, bringing the total to 932,900 shares, which is approximately 7.0% of the total shares outstanding.
• Two company directors, Cynthia Downes and Steven A. Cohen, sold a combined 5,263 shares of Willdan stock in August, representing significant decreases in their ownership stakes.
• Analyst ratings for Willdan Group have improved, with Zacks Research upgrading the stock to a "strong-buy" and several analysts raising target prices, indicating positive sentiment towards the company's future performance.

Willdan Group, Inc. (NASDAQ:WLDN - Get Free Report) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 932,900 shares, an increase of 36.9% from the August 15th total of 681,300 shares. Approximately 7.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 407,000 shares, the days-to-cover ratio is currently 2.3 days. Based on an average daily trading volume, of 407,000 shares, the days-to-cover ratio is currently 2.3 days. Approximately 7.0% of the shares of the stock are short sold.

Willdan Group Stock Performance

Shares of NASDAQ WLDN opened at $98.74 on Tuesday. The business's 50-day simple moving average is $95.78 and its 200-day simple moving average is $64.01. Willdan Group has a 52 week low of $30.43 and a 52 week high of $121.00. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 41.31 and a beta of 1.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.43 and a current ratio of 1.43.

Insiders Place Their Bets

In other news, Director Cynthia Downes sold 2,763 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $109.43, for a total value of $302,355.09. Following the completion of the sale, the director owned 8,909 shares in the company, valued at $974,911.87. This represents a 23.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven A. Cohen sold 2,500 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $116.34, for a total value of $290,850.00. Following the completion of the sale, the director owned 26,849 shares of the company's stock, valued at approximately $3,123,612.66. This trade represents a 8.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 399,141 shares of company stock valued at $43,089,466. 8.60% of the stock is currently owned by insiders.

Institutional Trading of Willdan Group

Hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP bought a new position in shares of Willdan Group during the 2nd quarter worth approximately $20,188,000. Nuveen LLC bought a new position in shares of Willdan Group during the 1st quarter worth approximately $10,313,000. Nuveen Asset Management LLC lifted its position in shares of Willdan Group by 136.0% during the 4th quarter. Nuveen Asset Management LLC now owns 208,059 shares of the construction company's stock worth $7,925,000 after buying an additional 119,888 shares during the period. Pacer Advisors Inc. bought a new position in shares of Willdan Group during the 1st quarter worth approximately $4,687,000. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Willdan Group during the 2nd quarter worth approximately $6,807,000. Institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on WLDN shares. Zacks Research upgraded Willdan Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Roth Capital reaffirmed a "buy" rating and set a $103.00 target price (up from $62.00) on shares of Willdan Group in a report on Tuesday, August 5th. Finally, Wedbush upped their target price on Willdan Group from $85.00 to $120.00 and gave the company an "outperform" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat.com, Willdan Group has a consensus rating of "Buy" and an average target price of $111.50.

Willdan Group Company Profile

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.

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