NV5 Holdings Inc (NVEE) has disclosed a new risk, in the Accounting & Financial Operations category.
NV5 Holdings Inc. faces a significant risk due to a material weakness identified in its internal controls over financial reporting, particularly concerning project revenue controls at Axim, an acquisition made in February 2023. This weakness could compromise the accuracy and reliability of the company’s financial statements if not promptly addressed, potentially affecting investor confidence and the market price of its common stock. Management acknowledges this deficiency and is implementing corrective measures, but the risk remains that these efforts may not suffice or additional weaknesses may emerge. The ongoing challenges with internal controls could adversely impact NV5 Holdings Inc.’s business operations and its compliance with federal securities laws and debt agreements.
Overall, Wall Street has a Moderate Buy consensus rating on NVEE stock based on 3 Buys and 2 Holds.
To learn more about NV5 Holdings Inc’s risk factors, click here.
