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

Concrete Pumping Holdings Inc (NASDAQ:BBCP) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 751,900 shares, an increase of 7.7% from the December 15th total of 698,400 shares. Based on an average daily volume of 100,200 shares, the days-to-cover ratio is presently 7.5 days. Currently, 2.8% of the company’s shares are sold short.

A number of equities analysts recently commented on the stock. B. Riley reiterated a “buy” rating and issued a $7.00 target price on shares of Concrete Pumping in a research report on Friday, November 22nd. ValuEngine cut shares of Concrete Pumping from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Zacks Investment Research cut shares of Concrete Pumping from a “hold” rating to a “sell” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $7.08.

Shares of BBCP stock traded down $0.18 during mid-day trading on Thursday, reaching $5.00. The stock had a trading volume of 51,755 shares, compared to its average volume of 73,606. The stock’s 50-day moving average price is $5.04 and its two-hundred day moving average price is $4.28. Concrete Pumping has a 52-week low of $3.16 and a 52-week high of $12.73. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.60.

Concrete Pumping (NASDAQ:BBCP) last released its quarterly earnings data on Tuesday, January 14th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.04). Concrete Pumping had a negative net margin of 1.68% and a negative return on equity of 1.83%. The firm had revenue of $83.95 million during the quarter, compared to analysts’ expectations of $84.38 million. As a group, equities analysts predict that Concrete Pumping will post 0.21 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in BBCP. Rhumbline Advisers purchased a new position in shares of Concrete Pumping in the third quarter valued at about $53,000. BB&T Securities LLC bought a new stake in Concrete Pumping during the third quarter worth about $62,000. Millennium Management LLC boosted its stake in Concrete Pumping by 101.6% during the third quarter. Millennium Management LLC now owns 24,180 shares of the company’s stock worth $95,000 after acquiring an additional 1,544,180 shares in the last quarter. California State Teachers Retirement System boosted its stake in Concrete Pumping by 46.5% during the third quarter. California State Teachers Retirement System now owns 25,056 shares of the company’s stock worth $99,000 after acquiring an additional 7,950 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Concrete Pumping during the third quarter worth about $101,000. Hedge funds and other institutional investors own 26.39% of the company’s stock.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc provides concrete pumping and concrete waste management services. The company offers concrete pumping services under the Brundage-Bone brand and concrete waste management services under the Eco-Pan brand in the United States; and concrete pumping services under the Camfaud brand in the United Kingdom.

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