The stock price of Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) has jumped by 2.96 compared to previous close of 10.32. Despite this, the company has seen a gain of 7.98% in its stock price over the last five trading days. globenewswire.com reported 2024-09-18 that HOUSTON, Sept. 18, 2024 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, announced today that its Senior Vice President and Chief Financial Officer, Scott Kornblau, will present at Noble Capital Markets’ Basic Industries Emerging Growth Virtual Equity Conference on Wednesday, September 25, 2024, at 9:30 AM Eastern Standard Time. The broadcasted formal presentation will feature a fireside style Q&A. Scheduled 1×1 meetings on Thursday, September 26, 2024, with Scott Kornblau are also available for registered, qualified investor attendees.
Is It Worth Investing in Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) Right Now?
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) has a price-to-earnings ratio of 16.28x that is above its average ratio. Additionally, the 36-month beta value for GLDD is 1.15. There are mixed opinions on the stock, with 1 analysts rating it as a “buy,” 0 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
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The public float for GLDD is 65.36M and currently, short sellers hold a 1.50% ratio of that float. The average trading volume of GLDD on September 20, 2024 was 488.44K shares.
GLDD’s Market Performance
GLDD’s stock has seen a 7.98% increase for the week, with a 20.06% rise in the past month and a 20.47% gain in the past quarter. The volatility ratio for the week is 4.34%, and the volatility levels for the past 30 days are at 4.36% for Great Lakes Dredge & Dock Corporation. The simple moving average for the past 20 days is 10.91% for GLDD’s stock, with a 25.18% simple moving average for the past 200 days.
Analysts’ Opinion of GLDD
Many brokerage firms have already submitted their reports for GLDD stocks, with Imperial Capital repeating the rating for GLDD by listing it as a “In-line.” The predicted price for GLDD in the upcoming period, according to Imperial Capital is $4 based on the research report published on August 08, 2016 of the previous year 2016.
DA Davidson, on the other hand, stated in their research note that they expect to see GLDD reach a price target of $4, previously predicting the price at $5. The rating they have provided for GLDD stocks is “Neutral” according to the report published on August 05th, 2016.
Imperial Capital gave a rating of “Outperform” to GLDD, setting the target price at $5.50 in the report published on February 24th of the previous year.
GLDD Trading at 14.98% from the 50-Day Moving Average
After a stumble in the market that brought GLDD to its low price for the period of the last 52 weeks, the company was able to rebound, for now settling with 0.71% of gains for the given period.
Volatility was left at 4.36%, however, over the last 30 days, the volatility rate increased by 4.34%, as shares surge +22.49% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +24.48% upper at present.
During the last 5 trading sessions, GLDD rose by +9.04%, which changed the moving average for the period of 200-days by +49.86% in comparison to the 20-day moving average, which settled at $9.68. In addition, Great Lakes Dredge & Dock Corporation saw 38.35% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at GLDD starting from Petterson Lasse, who sale 46,510 shares at the price of $9.08 back on Aug 23 ’24. After this action, Petterson Lasse now owns 931,101 shares of Great Lakes Dredge & Dock Corporation, valued at $422,306 using the latest closing price.
Petterson Lasse, the CEO & President of Great Lakes Dredge & Dock Corporation, sale 28,709 shares at $9.24 during a trade that took place back on Aug 26 ’24, which means that Petterson Lasse is holding 902,392 shares at $265,363 based on the most recent closing price.
Stock Fundamentals for GLDD
Current profitability levels for the company are sitting at:
- 0.09 for the present operating margin
- 0.18 for the gross margin
The net margin for Great Lakes Dredge & Dock Corporation stands at 0.07. The total capital return value is set at 0.06. Equity return is now at value 11.21, with 4.13 for asset returns.
Based on Great Lakes Dredge & Dock Corporation (GLDD), the company’s capital structure generated 0.51 points at debt to capital in total, while cash flow to debt ratio is standing at 0.13. The debt to equity ratio resting at 1.05. The interest coverage ratio of the stock is 4.32.
Currently, EBITDA for the company is 62.05 million with net debt to EBITDA at 4.58. When we switch over and look at the enterprise to sales, we see a ratio of 1.76. The receivables turnover for the company is 5.27for trailing twelve months and the total asset turnover is 0.59. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.32.
Conclusion
In conclusion, Great Lakes Dredge & Dock Corporation (GLDD) has seen better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
