BGSF (NYSE:BGSF) Stock Price Down 1% – What’s Next?

BGSF, Inc. (NYSE:BGSF)’s share price traded down 1% on Monday. The stock traded as low as $4.91 and last traded at $4.95. Approximately 4,208 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 9,458 shares. The stock had previously closed at $5.00.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of BGSF in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

BGSF Price Performance

The stock has a market capitalization of $52.87 million, a PE ratio of -6.69 and a beta of 0.44. The company has a 50 day moving average price of $5.37 and a 200-day moving average price of $5.59.

BGSF (NYSE:BGSF) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.28). BGSF had a negative return on equity of 13.69% and a negative net margin of 8.99%.The business had revenue of $22.31 million during the quarter, compared to analysts’ expectations of $24.50 million.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new stake in shares of BGSF during the 2nd quarter valued at about $59,000. Walleye Capital LLC bought a new position in BGSF in the first quarter worth about $215,000. Empowered Funds LLC raised its stake in BGSF by 9.3% in the first quarter. Empowered Funds LLC now owns 37,556 shares of the company’s stock worth $243,000 after buying an additional 3,206 shares in the last quarter. Allworth Financial LP purchased a new stake in BGSF in the second quarter worth about $225,000. Finally, Oxford Financial Group LTD. LLC purchased a new stake in BGSF in the second quarter worth about $288,000. 37.19% of the stock is currently owned by institutional investors.

About BGSF

BGSF, Inc (NYSE: BGSF) is a provider of workforce solutions and professional services in the United States. The company helps businesses address staffing and operational needs through temporary, contract, contract-to-hire and direct-hire placement services, as well as consulting and managed services.

BGSF serves several specialized markets, including information technology, finance and accounting, and property management. Its offerings include technology staffing and consulting, finance and accounting professionals, and personnel supporting the operations of multifamily housing and other real estate properties.

The company was formerly known as BG Staffing, Inc and adopted the BGSF name as part of its broader brand and service strategy.