Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Short Interest Update

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 377,500 shares, an increase of 15.4% from the October 31st total of 327,100 shares. Based on an average daily trading volume, of 78,500 shares, the short-interest ratio is currently 4.8 days. Currently, 1.7% of the shares of the company are sold short.

Institutional Investors Weigh In On Concrete Pumping

Institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Concrete Pumping during the 2nd quarter valued at about $26,000. Allspring Global Investments Holdings LLC purchased a new position in Concrete Pumping in the 3rd quarter valued at about $36,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Concrete Pumping during the 2nd quarter worth approximately $42,000. Quadrature Capital Ltd acquired a new position in Concrete Pumping in the 1st quarter valued at $180,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Concrete Pumping by 39.1% in the second quarter. Hsbc Holdings PLC now owns 31,567 shares of the company’s stock worth $195,000 after buying an additional 8,866 shares in the last quarter. 34.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. DA Davidson reduced their target price on Concrete Pumping from $9.00 to $8.50 and set a “buy” rating on the stock in a report on Thursday, September 5th. Robert W. Baird cut their target price on Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, UBS Group cut Concrete Pumping from a “buy” rating to a “neutral” rating and cut their target price for the company from $10.50 to $6.25 in a research report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Concrete Pumping currently has a consensus rating of “Hold” and a consensus price target of $7.31.

Concrete Pumping Stock Performance

NASDAQ BBCP traded up $0.17 during trading hours on Monday, hitting $7.09. 47,776 shares of the company’s stock traded hands, compared to its average volume of 94,736. The business’s fifty day moving average price is $5.80 and its two-hundred day moving average price is $6.16. Concrete Pumping has a 52 week low of $5.05 and a 52 week high of $8.48. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $379.55 million, a P/E ratio of 26.62 and a beta of 1.13.

Concrete Pumping (NASDAQ:BBCP) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). The business had revenue of $109.62 million for the quarter, compared to analysts’ expectations of $126.10 million. Concrete Pumping had a net margin of 3.72% and a return on equity of 6.17%. During the same period in the previous year, the company earned $0.17 EPS. Equities research analysts predict that Concrete Pumping will post 0.27 EPS for the current year.

Concrete Pumping Company Profile

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.