Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Sees Significant Drop in Short Interest

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 267,000 shares, a decrease of 8.3% from the July 15th total of 291,300 shares. Based on an average daily volume of 128,000 shares, the short-interest ratio is currently 2.1 days. Approximately 1.1% of the shares of the stock are short sold.

Concrete Pumping Stock Performance

NASDAQ:BBCP opened at $6.27 on Tuesday. The company has a market capitalization of $339.33 million, a price-to-earnings ratio of 20.23 and a beta of 1.10. The business has a 50 day moving average of $6.29 and a 200 day moving average of $7.05. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.24 and a quick ratio of 1.17. Concrete Pumping has a 1-year low of $5.58 and a 1-year high of $9.15.

Concrete Pumping (NASDAQ:BBCP) last announced its quarterly earnings data on Thursday, June 6th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Concrete Pumping had a return on equity of 6.83% and a net margin of 4.25%. The business had revenue of $107.06 million during the quarter, compared to the consensus estimate of $112.97 million. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The company’s revenue was down .7% compared to the same quarter last year. On average, sell-side analysts predict that Concrete Pumping will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BBCP has been the topic of a number of analyst reports. DA Davidson decreased their target price on shares of Concrete Pumping from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Monday, June 10th. Robert W. Baird decreased their price target on shares of Concrete Pumping from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Monday, June 10th. Stifel Nicolaus lowered their price objective on Concrete Pumping from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Finally, William Blair cut Concrete Pumping from an “outperform” rating to a “market perform” rating in a research report on Friday, June 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.25.

Institutional Trading of Concrete Pumping

Hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC bought a new position in shares of Concrete Pumping during the second quarter valued at about $26,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Concrete Pumping during the 2nd quarter valued at about $42,000. Private Advisor Group LLC bought a new position in Concrete Pumping during the 4th quarter worth approximately $101,000. Trexquant Investment LP bought a new position in Concrete Pumping during the 4th quarter worth approximately $151,000. Finally, Quadrature Capital Ltd purchased a new position in Concrete Pumping in the 1st quarter worth approximately $180,000. 34.20% of the stock is owned by institutional investors.

About Concrete Pumping

Concrete Pumping Holdings, Inc provides concrete pumping and waste management services in the United States and the United Kingdom. The company offers concrete pumping services to general contractors and concrete finishing companies in the commercial, infrastructure, and residential sectors under the Brundage-Bone and Capital Pumping brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.