Price Action Don’t Lie: Could Great Lakes Dredge & Dock Corporation See a Reversal After This Very Strong Session?

Price Action Don't Lie: Could Great Lakes Dredge & Dock Corporation See a Reversal After This Very Strong Session?

The stock of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) is a huge mover today! About 206,980 shares traded hands. Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) has declined 25.79% since April 5, 2016 and is downtrending. It has underperformed by 27.75% the S&P500.
The move comes after 6 months positive chart setup for the $179.33 million company. It was reported on Nov, 7 by Barchart.com. We have $5.41 PT which if reached, will make NASDAQ:GLDD worth $116.56M more.

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Ratings Coverage

Out of 3 analysts covering Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Great Lakes Dredge & Dock Corporation has been the topic of 5 analyst reports since October 19, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Wednesday, November 4 by Imperial Capital. The company was upgraded on Friday, March 18 by Stephens. The rating was maintained by Imperial Capital on Wednesday, February 24 with “Outperform”. DA Davidson maintained Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) rating on Friday, August 5. DA Davidson has “Neutral” rating and $4 price target.

According to Zacks Investment Research, “GREAT LAKES DREDGE & DOCK CORPORATION is the largest provider of dredging services in the US conducting business to maintain and deepen shipping channels, reclaim land from the ocean, and renourish storm damaged coastline. The company also conducts around 25% of its operations internationally with a strong focus in the Middle East. Projects can generally be recognized to fall within a number of categories, namely, Maintenance projects to keep shipping channels and harbors at their required depths, Capital works to excavate, deepen or widen navigable waterways, Beach restoration for storm damaged coastline and Reclamation works to restore wetlands or create new land in the ocean.”

Insitutional Activity: The institutional sentiment decreased to 1.06 in 2016 Q2. Its down 0.22, from 1.28 in 2016Q1. The ratio is negative, as 10 funds sold all Great Lakes Dredge & Dock Corporation shares owned while 24 reduced positions. 13 funds bought stakes while 23 increased positions. They now own 47.29 million shares or 3.63% less from 49.07 million shares in 2016Q1.
Voya Investment Management Ltd Llc accumulated 41,440 shares or 0% of the stock. Great West Life Assurance Company Can owns 8,100 shares or 0% of their US portfolio. Parametric Port Limited Liability has 0.01% invested in the company for 1.05 million shares. Susquehanna Gru Llp holds 0% of its portfolio in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) for 34,923 shares. Picton Mahoney Asset accumulated 49,000 shares or 0.01% of the stock. Bancorp Of America Corporation De has 0% invested in the company for 205,438 shares. Merion Invest Mgmt L P last reported 755,937 shares in the company. Wells Fargo Mn, a California-based fund reported 16,075 shares. Tower Limited (Trc), a New York-based fund reported 5,544 shares. Legal General Grp Pcl holds 0% or 11,347 shares in its portfolio. Raymond James Assocs, a Florida-based fund reported 174,977 shares. Brandywine Global Invest accumulated 0% or 26,800 shares. Diam Com has 0.02% invested in the company for 272,200 shares. Commercial Bank Of New York Mellon Corp accumulated 0% or 624,720 shares. Schwab Charles Investment Mngmt holds 0% of its portfolio in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) for 193,603 shares.

Insider Transactions: Since August 9, 2016, the stock had 1 buying transaction, and 0 insider sales for $140,623 net activity. Uhler Robert B had bought 35,000 shares worth $140,623 on Tuesday, August 9.

Another recent and important Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) news was published by Moodys.com which published an article titled: “Moody’s changes Great Lakes Dredge & Dock’s outlook to stable from positive …” on November 24, 2015.

GLDD Company Profile

Great Lakes Dredge & Dock Corporation (Great Lakes), incorporated on August 07, 2006, is a well-known provider of dredging services. Great Lakes provides dredging services in the East, West and Gulf Coasts of the United States and around the world. The Firm operates in two divisions: Dredging Operations, which involves enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock, and Environmental & Remediation Operations, which provides construction services on soil, water and sediment for clients in both the public and private sectors in the United States. The Firm holds interests in Amboy Aggregates (Amboy), which is involved in mining sand from the entrance channel to New York Harbor for providing sand and aggregate for use in road and building construction, and for clean land fill; Lower Main Street Development, LLC (Lower Main), which is engaged in land development and sale business, and TerraSea Environmental Solutions (TerraSea), which is engaged in the environmental services business.

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