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

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) was the recipient of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 301,200 shares, a drop of 20.2% from the November 15th total of 377,500 shares. Based on an average daily trading volume, of 76,700 shares, the short-interest ratio is currently 3.9 days. Currently, 1.3% of the company’s stock are short sold.

Analysts Set New Price Targets

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

Concrete Pumping Stock Performance

Shares of NASDAQ:BBCP traded up $0.02 on Friday, reaching $7.27. The company’s stock had a trading volume of 33,946 shares, compared to its average volume of 94,216. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.54 and a quick ratio of 1.44. Concrete Pumping has a 52-week low of $5.05 and a 52-week high of $8.48. The stock’s 50-day moving average is $6.10 and its two-hundred day moving average is $6.19. The stock has a market capitalization of $389.18 million, a P/E ratio of 27.96 and a beta of 1.13.

Institutional Trading of Concrete Pumping

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new position in shares of Concrete Pumping in the second quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC acquired a new position in Concrete Pumping in the 3rd quarter valued at $36,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Concrete Pumping during the 2nd quarter worth $42,000. Hsbc Holdings PLC lifted its stake in shares of Concrete Pumping by 39.1% in the 2nd quarter. Hsbc Holdings PLC now owns 31,567 shares of the company’s stock worth $195,000 after acquiring an additional 8,866 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Concrete Pumping by 4.4% in the second quarter. Rhumbline Advisers now owns 38,239 shares of the company’s stock valued at $230,000 after acquiring an additional 1,623 shares in the last quarter. 34.20% of the stock is owned by hedge funds and other 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.