Northwest Pipe (NASDAQ:NWPX) was the target of a large growth in short interest in June. As of June 30th, there was short interest totalling 288,000 shares, a growth of 9.0% from the May 30th total of 264,200 shares. Approximately 3.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 29,700 shares, the short-interest ratio is presently 9.7 days.
A number of large investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA boosted its stake in shares of Northwest Pipe by 551.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,025 shares of the industrial products company’s stock valued at $49,000 after buying an additional 1,714 shares during the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in shares of Northwest Pipe during the 4th quarter valued at approximately $77,000. MetLife Investment Advisors LLC purchased a new position in shares of Northwest Pipe during the 4th quarter valued at approximately $106,000. Bessemer Group Inc. purchased a new position in shares of Northwest Pipe during the 4th quarter valued at approximately $109,000. Finally, Bank of America Corp DE boosted its stake in shares of Northwest Pipe by 32.1% during the 4th quarter. Bank of America Corp DE now owns 7,029 shares of the industrial products company’s stock valued at $164,000 after buying an additional 1,709 shares during the last quarter. Institutional investors own 78.23% of the company’s stock.
Northwest Pipe stock opened at $25.57 on Tuesday. Northwest Pipe has a 52 week low of $16.52 and a 52 week high of $26.48. The stock has a 50-day simple moving average of $24.83. The stock has a market cap of $247.76 million, a price-to-earnings ratio of -142.06, a PEG ratio of 1.51 and a beta of 0.80.
Several equities research analysts recently commented on NWPX shares. Zacks Investment Research lowered shares of Granite Point Mortgage Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. ValuEngine lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th.
About Northwest Pipe
Northwest Pipe Company manufactures engineered welded steel pipe water systems in North America. It produces large-diameter, high-pressure, and engineered welded steel pipeline systems for use in drinking water infrastructure; and pipes for piling and hydroelectric projects, water and wastewater treatment plants, and other applications, as well as for industrial plant piping systems and structural applications.
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