ENGlobal (NASDAQ:ENG) is seeing massive increases to ENG stock on Tuesday even though there’s no new news from the company.
The jump in ENGlobal comes as the stock experiences heavy trading in the morning hours. This has resulted in some 38 million shares of ENG stock changing hands as of this writing. For comparison, the stock’s daily average trading volume is just under 1 million shares.
With eyes on ENGlobal stock today, it only makes sense that curious investors will want to know more about the company. That’s where the quick primer below comes in.
- ENGlobal is an engineering company that primarily services the energy sector in the U.S.
- It specializes in the automation, development, design, fabrication, integration, and implementation of various tasks.
- That includes automated data gathering systems, distributed control and analyzer systems, information technology projects, electrical projects, as well as remote instrument buildings, control rooms, and power islands.
- This has it servicing several types of businesses, including upstream, midstream, downstream, alternative energy, pulp and paper, and the government.
- The company is currently led by its founder, chairman, president and CEO William Coskey.
- It was founded in 1985 and its main operations take place at its plant in Houston, Texas.
- However, the company also has facilities in Denver, Colo., and Tulsa, Okla.
- ENGlobal joined the Nasdaq via n initial public offering (IPO) on July 31, 20090.
- Its current market capitalization is $94.53 million.
ENG stock was up 50.2% as of Tuesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.