At last check, ENGlobal Corporation (ENG) shares were trading at $2.73, up 3.41% in premarket trading. During Friday’s session, the ENGlobal stock declined -2.58% to $2.64. The volume of shares traded for ENGlobal stock remained at 4.18 million versus 1.69 million during the past 50 days. ENG shares have increased by 153.85% over the last year, and they have decreased by -6.05% over the past week.

ENG stock has lost -49.13% over the past three months, while it has gained 58.08% over the past six months. Furthermore, the company’s market cap is $95.20 million, and its shares outstanding total 27.56 million. Following the news it had been included in the Russell Microcap Index, ENG stock rose.

What is the reasoning behind its inclusion in the Russell?

ENGlobal provides renewable and conventional energy solutions nationwide as well as internationally. In addition to its Government Services business segment, ENG also operates two commercial business segments.

ENGlobal last week reported that a preliminary list of additions posted by Russell on June 4, 2021, ENGlobal was selected to join the Russell Microcap Index following the 2021 Russell indexes annual reconstitution, effective after the US markets close on Friday, June 25, 2021.

• By joining the Russell Microcap Index, which is for one year, investors are automatically included in the appropriate value and growth style indices.
• In calculating Russell index membership, FTSE Russell considers primarily market capitalization and style factors.
• Russell indices are widely used as benchmarks for active investment strategies and index funds by institutional investors and investment managers.
• Russell’s US indexes are benchmarked against about $10.6 trillion in assets.
• FTSE Russell, a significant global index provider, is the holder of Russell’s indexes.

ENGlobal also completed delivery of the final 24 process modules needed to develop a complete hydrogen production facility in Hugoton, Kansas, on an 800 acre-plus site.

• ENG’s customer, Seaboard Energy, will begin operation of the facility after several months of additional fabrication, construction, and start-up support. The facility will produce 6,500 barrels of renewable diesel fuel per day.
• ENGlobal (ENG) has developed the world’s first hydrogen plant using HTCRTM (Haldor Topsoe Convection Reformer).
• With Haldor Topsoe H2bridge technology, ENG can use renewable feedstocks to maximize use of renewable products and to reduce overall operating costs as well.
• In addition to supplying modules, ENGlobal (ENG) provided engineering, detailed design, procurement, and automation services during the 18-month project.