Stock Alert: ENGlobal Hits New 52-week High

(RTTNews) - Shares of ENGlobal Corp. (ENG), a provider of engineered modular solutions primarily to the energy industry, are surging more than 83 percent or $1.72 in Tuesday's morning trade at $3.79. The stock earlier touched a new 52-week high of $4.18 despite no company-centric news.

U.S. stocks are rising on Tuesday following news that the head of the General Services Administration has informed President-elect Joe Biden that the Trump administration is ready to begin the formal transition process. Investor sentiment also received a boost from reports that Biden plans to pick former Federal Reserve Chair Janet Yellen as Treasury Secretary.

ENGlobal has traded in a range of $0.46 to $4.18 in the past 52 weeks.