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ENGlobal Corporation (ENG)
NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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At close: 04:00PM EDT
1,064 reactions on $ENG conversation
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In a last four trading session... this stock came down around 30 to 40%... Not sure whether it's a buy or not? Insider holds 25%+ so that's good... but I do see loss of 3.5 MM on revenue of 7.0 MM... cash burn 1.3 MM - last Q data... Is there anything which can take price higher?
Have you guys ever heard of (
)? The picks on there are way better than ENG
The pick that was just sent out by (
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New acquisition allows Eng the ability to build and install upwards of 50 GTL (gas to liquid) plants per year once up and running. GTL plants would be used to capture flare gas and produce up to 100 barrels of oil per day. A GTL plant estimated to be 4+mil in revenue per unit to Eng
In case you haven't seen, here is ENG new company they just bought::
Have u ever
did they win the port a san contract yet?
Company is turning around, growing revenues the past few years after declining revenues for 5+. They have started to shift towards renewable and Hydrogen. The company designs and engineers modular systems (think electrical power for the facility) and do all the pipe work for hydrogen plant. Their systems are all designed and built in house in their 80,000 sq for facility and shipped on site, making them lean, efficient and competitive. Also do clean diesel and other renewables among many other engineering projects. Business strategy has shifted from going after more, smaller contracts to less, larger contracts a few years ago and we see this paying off on the P&L.��2. On track for about�$70M�in revenues this year with only ~45M Market Cap currently (~25% increase from last year, during COVID, which the CEO has stated has impacted their business). On track for ~40% gross profit improvement this year. All while cutting SG&A costs by 17% (less, larger projects = decrease in workforce). Undervalued compared to other Hydrogen and green energy plays that are grossly over valued.�3. On track to turn profitable this year.�4. CEO William Coskey owns over 8M shares or about 33% of outstanding shares and hasn?t sold a single share in over 10 years.�5. We?ve seen more than 6x volume on several days in this past month than they?ve had in entire months in the past. I imagine we see a lot of tutes taking big positions over Q4.�6. No debt (only PPP loan which will be forgiven and small revolving credit line which CFO took out to weather any COVID impacts and is just sitting as cash on #$%$ - see SoCF).�7. Experience engineering and fabricating first Hydrogen plant of its kind in the US, expected completion was November 2020 for engineering and design phase, with full completion in May 2021.�8. Actively bidding on potential ~$321M�of new contracts. I would imagine more news on these and new hydrogen projects imminent. CEO stated going after contracts in the range of�$10M�to�$250M�earlier this year so all it would take is one�$100M+ contract announcement for this to jump. (Looks like their hydrogen plant is taking about a year and a half from contract signing to completion, when we think about timeline for revenue recognition).�9. The client they are engineering the Hydrogen Plant for is Haldor Topsoe. Initial scope of work was�$20M�and Haldor Topsoe has been happy with the work and increased an additional 15% scope of work. Englobal and Haldor Topsoe have a working relationship and management has stated they are working on proposals between�$25M�and�$125M�for other projects with Haldor Topsoe and if Haldor has increased scope of original project and happy with work I imagine we may see some new contracts soon.�10. 2 different revenue streams which are both growing , Engineering Procurement and Management and Automation. No major single customer concentration risk.�11. New position created recently , President , with new hire Roger Westerlind. Position created to help drive continued growth and Roger has over 40 years experience growing global engineering and consulting businesses.�We should be hearing news this week or next week on the progress of the plant and the 24 modules as stated in a PR in August.�My advise to you is start a small position and keep adding as the dips happen, with such a low float this can run in the blink of an eye.�Let go ENG make us all money ? please share this DD with any wall or chat you?re in, also please join us on StockTwits as we are trying to get our view numbers up.�All the best
ENGlobal's potential contracts for renewable fuels projects currently exceed $320 million, says Bill Coskey, the company's founder, president, and CEO. That's about six times the amount of ENGlobal's revenue through the first nine months of this year — $52.9 million.
During the company's third-quarter earnings call November 5, Coskey said publicly traded ENGlobal "has more promising opportunities for significant new business than at any time in our company's history."
Many of those opportunities stem from ENGlobal's shift a couple of years ago to a sharp focus on the renewable energy sector. This includes building utility-scale systems to store wind and solar power, and supplying modular engineered process plants for forms of energy like hydrogen and renewable diesel. Modular process plants consist of separately engineered and automated modules that are made off-site and assembled on-site.
ENGlobal is engineering and fabricating a modular hydrogen plant for a renewal diesel facility scheduled for completion in May. Incorporating proprietary technology from Denmark-based Haldor Topsoe (which has two offices and one plant in the Houston area), this hydrogen plant will consume about 20 percent less feed and fuel than conventional hydrogen plants, leading to lower operating costs and a smaller carbon footprint. It's the first facility of its kind in the U.S. This $25 million project falls into a bucket of modular process plants — valued at $10 million to $200 million each — that ENGlobal typically pursues.
Seems like the 1 Green Day out of 10 or so days was mostly short covering. Also Seems like sellers still have the upper hand. ENG may be selling stock here as well as part of the shelf offering. If they are selling here it’s likely because they need the money to expand and land bigger deals. As much as we bulls want this stock to jump into the teens tomorrow, it’s wise to Adjust your short term expectations and focus your attention on other things. I’m holding my position and adding on panic sell offs.
Right now ENG is a tiny tiny fish in a very large ocean of investments being cast about by the surrounding forces. When the time is right, ENG will hopefully sign several lucrative deals and the upward momentum will return. Wishing you all the best of luck and stay strong in this market.
CEO should be announcing confirmation of completion of Phase I of the hydrogen plant any day now. I'm guessing this pops to $4 when that news hits. CEO clearly stated back in August the hydrogen plant is on schedule and under budget. Quote: "The engineering and detailed design phase of the hydrogen facility...is expected to be completed by November 2020."
"Our team is proud to report that this important project is currently on schedule and within our estimated cost budget to complete the work."
So am I missing something?
@Franklin S If you’re investing in the hydrogen space you might want to diversify a little. Creating your own basket of plays among other hydrogen stocks would help to reduce the risk that has you worried about a small cap player like ENG.
But if you owned a business, which would you want to be, the company competing with all the other players in the industry to sell widgets? or would you want to be the one engineering, designing, fabricating, supplying, consulting, measuring, constructing and servicing for all companies, regardless of who’s widgets are best?
ENG has built in diversity in that way, not to mention all the diversity within the company with all the various fuel technologies they have seeded.
I believe in ENGs rebirth as a serious contender in the Clean Energy field. Outstanding leadership and a proven track record as a solid “little” Pick and Shovel play (with revenue to prove it), with impeccable timing, should catapult ENG into another profitable era, for decades to come!
If you want to understand just how undervalued ENG is right now, just compare market caps with the other stocks in the industry like BLDP 10.53b, PLUG 34.25b, FCEL 6.98b, CLNE 2.29b
ENG has a market cap of just 228m with a very small outstanding share count.
Market Cap divided by Shares Outstanding=Price
All we are waiting for is one good earnings report on top of all the other good news coming from this company.
It’s stunning how much this stock is set to soar!!!
@Have you ever,
Looks like you got in at a market-top back when ENG was on fire in the oil service industry. Back then they were a small company with a lot of hustle, strong work ethic and explosive growth. Most importantly they had strong leadership. They knew how to get the contracts!
What has changed since then-the world now demands clean energy. What hasn’t changed is the leadership and core values of the company.
They have since cleverly reinvented themselves early as a Front-Runner in the new Alt-energy game, out of necessity!! They don’t just survive, they thrive-it’s in their DNA.
They still pay the bills with a steady stream of C&M calls from the legacy oil service contracts from the defense industry and refineries, etc., but will soon be in the black with hydrogen, and when the oil industry is ready to transition to clean energy, ENG will once again benefit from all the relationships they have nourished over the years.
We are now in a new era of alternative energy, much different from the Jimmy Carter days, and ENG’s modular hydrogen solution, the first in the U.S., looks promising, and people are just starting to wake up to this “...Groundbreaking Green Energy Project!”
ENG is using all of their collective construction, engineering and automation experience to innovate and design..
“a complete hydrogen production facility. This modular process plant will consume approximately 20 percent less feed and fuel gas than conventional hydrogen plants, permitting substantially lower operating costs and a far smaller carbon index.”
Aug 2020-begin module fabrication phase
Nov 2020-expected completion of engineering and design phase
May 2021-expected completion of fabrication phase, including testing and shipping of modules.
Looks like their first marketable modular hydrogen project will be completed sometime after May 2021. I would guess July. After a successful completion, they will have more offers than they can handle-sky is the limit! Until then we have 2 more reporting periods to practice patience.
Short answer: Hang in there. This stock has plenty of room to run. Your payday is coming!
$ENG is one of the cheapest clean energy and infrastructure stocks left and this hedge fund just disclosed an almost 7% stake today
The share price will take care of itself very quickly once the dust settles and there is a broad realization that money and resources need to be immediately allocated to fixing the issue being highlighted by this crisis.
The investors and traders who bought ENG thinking this is a hydrogen play are the ones who will be shaken out when PLUG and FCEL sell off. Pull up a comparison chart of ENG and any hydrogen stock like PLUG of FCEL and you will see the correlations. The hydrogen economy is still in its infancy and much infrastructure buildout will need to occur before any hydrogen is produced or delivered.
Just some food for thought... Please don’t make investment decisions based on my word or anyone else on a chat group. Do your own due diligence and make your own decisions. All the best!
What do you think need to happen for next break-out up to $10? This company is unbelievable cheap compared to many other energy stocks like FCEL, Ballard or Plug. I guess strong quarterly numbers or a new big contract like OEG would let it skyrocket again.
Perhaps lots of people who are shorting this or doubting the sustainability of the recent surge in stock price are using the rationale that it must go down because it went up so fast. That logic is super short sighted and overlooks the fundamental shift taking place right now with the actual shift to green tech, clean fuels and ESG investing.
ENG and other infrastructure companies are the metaphorical arteries that carry the “blood” to the vital organs. Along With the demand for hydrogen comes the need for safe and cost effective production which leads to the need for storage and distribution. ENG Cover all of these bases.
As an example of just one contact, ENG is currently building a first of its kind modular hydrogen plant which is set for completion in May 2021. Contract worth 25 million. With the broad range of expertise, ENG is well poised to go through a hyper growth phase unlike anything the industry has ever witnessed.
ENG has a market cap now of around 200 mil. With 25 mil shares outstanding, which means that for every 1 point move up, the company gains just 25 million in market cap. With the sector expected to go through massive growth for the foreseeable future, ENG is likely to attract unprecedented demand for its services as well as savvy investors who understand the potential for extraordinary returns on investment.
With the incoming government’s stated focus on environment and alt energy, there will not only be more mandates for clean fuel production but also investor demand for company’s and index funds that are in alignment with this new paradigm.
Am I missing anything? I’d love to hear from anyone who can share some expertise and wisdom.
Already had 1000 shares at 2.50, and bought 500 more yesterday at 4.50. The upside with ENG is huge. If you haven't already, visit their website and see how many potential revenue streams they have. ENG should be both a short-term and a long-term winner. Anyone disagree?
David, you ripping the idea of a possible buyout? Read this from CFRA Research (the largest institutional research firm in America): "We have a positive fundamental outlook for the industrial gases sub-industry for the next 12 months. CFRA thinks industrial gas businesses are highly resilient to economic shocks, such as the one caused by the Covid-19 pandemic. During the Great Recession of 2008-2009, free cash flow remained robust in this sub-industry. Industrial gas companies benefit from a high percentage of revenue derived from stable on-site businesses, which have fixed monthly charges and/or minimum purchase requirements. We project that the business environment for the industrial gases sub-industry will continue to improve, aided by the start-up/RAMP-UP of NEW PROJECTS. Consumption of industrial gases over the longer term will likely continue to increase at the historical rate of 1.5 to 2 times that of industrial production, in CFRA's view. We see some secular tailwinds driving earnings growth for several years, including hydrogen mobility and carbon capture.
We think MAJOR industry consolidation has ended, following the 2018 merger between Praxair and Linde. This deal leaves a small number of major global players in the industrial gases sub-industry, but with many smaller players. We see ONGOING ACQUISITIONS of smaller industrial companies by the larger companies continuing industry consolidation at a much smaller pace.
Much of the growth in this sub-industry should come from penetrating markets outside the U.S. and involve larger and more complex projects, including world-scale gasification projects."
I wouldn't be surprised to see APD, the world's largest provider of hydrogen, scoop up ENG. In November 2019, APD announced an $11.5 billion acquisition in Saudi Arabia at the Jazan refinery. So they are not afraid of spending money!
ENG is strange. There are no news, nothing. Yes, some indications that it might benefit from the green initiatives. Last earnings in November somewhat encouraging. However, it is hard to explain the 4x increase in the last two weeks. A direct offering to raise capital to benefit from the high stock price might be around the corner.
Sales Growth over last 12 months for ENG: 32.1%. Sales Growth last Quarter: 14.3%. Compare that to EME with a negative 1% sales growth over the last 12 months. Or Fluor Corp with an anemic 2.9% growth over the last 12 months. Or Jacobs Engineering who has only grown sales 6.5% over the last 12 months.
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