Willdan Group, Inc. (NASDAQ:WLDN) Short Interest Up 36.9% in August

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 recipient 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 volume of 407,000 shares, the short-interest ratio is presently 2.3 days. Based on an average daily volume of 407,000 shares, the short-interest ratio is presently 2.3 days. Approximately 7.0% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Roth Capital reissued a "buy" rating and issued a $103.00 price target (up previously from $62.00) on shares of Willdan Group in a report on Tuesday, August 5th. Zacks Research raised shares of Willdan Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Finally, Wedbush increased their target price on shares of Willdan Group from $85.00 to $120.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, Willdan Group currently has a consensus rating of "Buy" and an average price target of $111.50.

Insider Buying and Selling

In other Willdan Group news, Director Thomas Donald Brisbin sold 130,082 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $109.69, for a total value of $14,268,694.58. Following the transaction, the director directly owned 320,696 shares of the company's stock, valued at $35,177,144.24. This represents a 28.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wanda Kay Reder sold 850 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $119.46, for a total transaction of $101,541.00. Following the sale, the director directly owned 10,676 shares in the company, valued at approximately $1,275,354.96. The trade was a 7.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 399,141 shares of company stock valued at $43,089,466 in the last ninety days. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Willdan Group

Hedge funds have recently added to or reduced their stakes in the business. AdvisorShares Investments LLC acquired a new position in Willdan Group during the 2nd quarter worth approximately $30,000. USA Financial Formulas acquired a new position in Willdan Group during the 2nd quarter worth $65,000. McIlrath & Eck LLC acquired a new stake in shares of Willdan Group in the first quarter valued at $75,000. Raymond James Financial Inc. acquired a new stake in shares of Willdan Group during the second quarter worth $80,000. Finally, GAMMA Investing LLC raised its position in Willdan Group by 1,809.7% during the first quarter. GAMMA Investing LLC now owns 2,158 shares of the construction company's stock valued at $88,000 after buying an additional 2,045 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Willdan Group Stock Down 2.3%

WLDN traded down $2.42 on Friday, reaching $103.33. The company's stock had a trading volume of 455,205 shares, compared to its average volume of 436,312. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 43.23 and a beta of 1.31. Willdan Group has a fifty-two week low of $30.43 and a fifty-two week high of $121.00. The stock has a 50 day moving average of $98.20 and a two-hundred day moving average of $65.54. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.22.

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.