Willdan Group (NASDAQ:WLDN) Stock Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Willdan Group's stock price has risen above its 200-day moving average of $69.18, reaching a high of $97.00 before trading at $93.51.
• Analysts have issued positive ratings for the stock, with Wedbush raising its price target to $120.00 and Zacks upgrading it to a strong-buy rating.
• Recent insider trading activity saw VP Micah Chen sell 10,000 shares, representing a 19.83% decrease in their ownership, with insiders collectively selling over 416,000 shares in the last three months.

Willdan Group, Inc. (NASDAQ:WLDN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $69.18 and traded as high as $97.00. Willdan Group shares last traded at $93.51, with a volume of 345,303 shares.

Analyst Ratings Changes

Several research analysts have recently issued reports on WLDN shares. Wedbush raised their price objective on Willdan Group from $85.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Roth Capital restated a "buy" rating and issued a $103.00 price objective (up from $62.00) on shares of Willdan Group in a research note on Tuesday, August 5th. Finally, Zacks Research upgraded Willdan Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat, Willdan Group presently has a consensus rating of "Buy" and an average target price of $111.50.

Willdan Group Stock Performance

The firm has a 50-day moving average of $101.47 and a two-hundred day moving average of $69.18. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.37 billion, a PE ratio of 39.13 and a beta of 1.25.

Insider Buying and Selling

In other Willdan Group news, VP Micah Chen sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $106.00, for a total value of $1,060,000.00. Following the sale, the vice president directly owned 40,423 shares of the company's stock, valued at approximately $4,284,838. This trade represents a 19.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis V. Mcginn sold 7,298 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $106.32, for a total value of $775,923.36. Following the completion of the sale, the director directly owned 11,330 shares in the company, valued at approximately $1,204,605.60. The trade was a 39.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 416,439 shares of company stock valued at $44,925,389 in the last 90 days. Corporate insiders own 8.60% of the company's stock.

Institutional Trading of Willdan Group

Several institutional investors have recently bought and sold shares of WLDN. Wasatch Advisors LP acquired a new stake in Willdan Group in the second quarter valued at approximately $20,188,000. Nuveen LLC acquired a new stake in shares of Willdan Group in the first quarter worth approximately $10,313,000. Pacer Advisors Inc. acquired a new stake in shares of Willdan Group in the first quarter worth approximately $4,687,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Willdan Group in the second quarter worth approximately $6,807,000. Finally, Divisadero Street Capital Management LP boosted its stake in shares of Willdan Group by 62.3% in the second quarter. Divisadero Street Capital Management LP now owns 278,955 shares of the construction company's stock worth $17,437,000 after acquiring an additional 107,033 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

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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