Short Interest in Northwest Pipe (NASDAQ:NWPX) Expands By 9.0%

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.



Northwest Pipe (NASDAQ:NWPX) last released its earnings results on Wednesday, May 8th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.04. The company had revenue of $62.64 million for the quarter, compared to analyst estimates of $55.00 million. Northwest Pipe had a net margin of 12.13% and a return on equity of 0.83%. As a group, equities analysts anticipate that Northwest Pipe will post 1.68 earnings per share for the current year.

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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