Should You Believe in the Growth Prospects of Willdan Group (WLDN)?

Conestoga Capital Advisors, an asset management company, released its “Conestoga Micro Cap Growth Fund” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the Micro-Cap composite declined 0.67% compared to a 2.14% return for the Russell Microcap Growth Index. The negative stock selection and underweight exposure to the top-performing Health Care sector resulted in the fund’s underperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Conestoga Capital Advisors highlighted stocks like Willdan Group, Inc. (NASDAQ:WLDN) in its Q3 2022 investor letter. Headquartered in Anaheim, California, Willdan Group, Inc. (NASDAQ:WLDN) operates through Energy, and Engineering and Consulting segments. On December 15, 2022, Willdan Group, Inc. (NASDAQ:WLDN) stock closed at $17.35 per share. One-month return of Willdan Group, Inc. (NASDAQ:WLDN) was 6.64%, and its shares lost 57.81% of their value over the last 52 weeks. Willdan Group, Inc. (NASDAQ:WLDN) has a market capitalization of $230.667 million.

Conestoga Capital Advisors made the following comment about Willdan Group, Inc. (NASDAQ:WLDN) in its Q3 2022 investor letter:

Willdan Group, Inc. (NASDAQ:WLDN) provides professional technical and consulting services to utilities, private industry, and public agencies. WLDN reported 2Q22 results that missed expectations. Net Revenue of $52.9 million slightly missed expectations for $53.0 million. However, adjusted EBITDA of $1.2 million came in well consensus estimate. Looking forward, we believe financial results should improve as projects with California utility companies begin to ramp. These projects are focused on streamlining delivery of energy efficiency to the residents of CA.”

Willdan Group, Inc. (NASDAQ:WLDN) is not on our 30 Most Popular Stocks Among Hedge Funds list. As per our database, 5 hedge fund portfolios held Willdan Group, Inc. (NASDAQ:WLDN) at the end of the third quarter, which was 3 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.