Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Short Interest Up 20.2% in August

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 330,800 shares, a growth of 20.2% from the August 15th total of 275,200 shares. Based on an average daily trading volume, of 128,300 shares, the days-to-cover ratio is currently 2.6 days. Approximately 1.4% of the company’s shares are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new stake in Concrete Pumping during the 2nd quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Concrete Pumping during the second quarter valued at approximately $42,000. Private Advisor Group LLC acquired a new position in Concrete Pumping in the fourth quarter valued at approximately $101,000. Trexquant Investment LP purchased a new stake in Concrete Pumping in the 4th quarter worth approximately $151,000. Finally, Quadrature Capital Ltd purchased a new stake in Concrete Pumping in the 1st quarter worth approximately $180,000. 34.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BBCP. Stifel Nicolaus lowered their price target on Concrete Pumping from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, June 7th. Robert W. Baird cut their price target on Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. DA Davidson decreased their price objective on Concrete Pumping from $9.00 to $8.50 and set a “buy” rating for the company in a report on Thursday, September 5th. UBS Group cut shares of Concrete Pumping from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $10.50 to $6.25 in a report on Friday, September 6th. Finally, William Blair lowered shares of Concrete Pumping from an “outperform” rating to a “market perform” rating in a report on Friday, June 7th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.55.

Concrete Pumping Stock Up 4.2 %

BBCP stock traded up $0.23 during trading on Friday, reaching $5.71. 109,481 shares of the company traded hands, compared to its average volume of 101,038. The business has a 50 day simple moving average of $6.21 and a 200 day simple moving average of $6.78. Concrete Pumping has a 12 month low of $5.05 and a 12 month high of $9.15. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.44 and a current ratio of 1.54. The company has a market capitalization of $309.02 million, a price-to-earnings ratio of 18.42 and a beta of 1.11.

Concrete Pumping (NASDAQ:BBCP) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). Concrete Pumping had a net margin of 3.72% and a return on equity of 6.17%. The firm had revenue of $109.62 million during the quarter, compared to the consensus estimate of $126.10 million. During the same quarter in the prior year, the business posted $0.17 earnings per share. On average, equities research analysts anticipate that Concrete Pumping will post 0.27 earnings per share for the current fiscal year.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc provides concrete pumping and waste management services in the United States and the United Kingdom. The company offers concrete pumping services to general contractors and concrete finishing companies in the commercial, infrastructure, and residential sectors under the Brundage-Bone and Capital Pumping brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.