Northwest Pipe (NASDAQ:NWPX) Short Interest Update

Northwest Pipe (NASDAQ:NWPX) saw a large drop in short interest in July. As of July 31st, there was short interest totalling 233,300 shares, a drop of 7.8% from the June 30th total of 252,900 shares. Based on an average daily volume of 25,800 shares, the short-interest ratio is presently 9.0 days. Currently, 2.5% of the company’s stock are short sold.

A number of research firms have issued reports on NWPX. Zacks Investment Research raised Northwest Pipe from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Friday, August 9th. ValuEngine raised Northwest Pipe from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th.

Hedge funds have recently bought and sold shares of the business. Crown Advisors Management Inc. increased its holdings in shares of Northwest Pipe by 58.9% in the 1st quarter. Crown Advisors Management Inc. now owns 120,000 shares of the industrial products company’s stock valued at $2,880,000 after acquiring an additional 44,500 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its holdings in shares of Northwest Pipe by 21.0% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 252,684 shares of the industrial products company’s stock valued at $6,064,000 after acquiring an additional 43,859 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Northwest Pipe by 5.5% in the 4th quarter. BlackRock Inc. now owns 714,521 shares of the industrial products company’s stock valued at $16,641,000 after acquiring an additional 37,501 shares during the last quarter. Kennedy Capital Management Inc. increased its holdings in shares of Northwest Pipe by 17.0% in the 1st quarter. Kennedy Capital Management Inc. now owns 173,708 shares of the industrial products company’s stock valued at $4,169,000 after acquiring an additional 25,272 shares during the last quarter. Finally, RMB Capital Management LLC purchased a new position in shares of Northwest Pipe in the 2nd quarter valued at about $614,000. 77.80% of the stock is currently owned by institutional investors.



NWPX stock traded up $0.69 during mid-day trading on Thursday, reaching $26.11. The company had a trading volume of 36,400 shares, compared to its average volume of 36,220. The company has a market capitalization of $248.37 million, a price-to-earnings ratio of -145.06 and a beta of 0.76. The firm has a fifty day simple moving average of $24.56 and a 200 day simple moving average of $24.57. Northwest Pipe has a fifty-two week low of $16.52 and a fifty-two week high of $26.71.

Northwest Pipe (NASDAQ:NWPX) last posted its quarterly earnings results on Monday, August 5th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.08). The company had revenue of $69.20 million during the quarter, compared to analyst estimates of $62.00 million. Northwest Pipe had a net margin of 13.68% and a return on equity of 4.47%. Sell-side analysts predict that Northwest Pipe will post 1.51 EPS for the current year.

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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