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.
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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