Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Sees Significant Growth in Short Interest

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

Concrete Pumping Price Performance

NASDAQ:BBCP traded down $0.04 during trading hours on Monday, reaching $5.67. The company had a trading volume of 42,832 shares, compared to its average volume of 100,710. The stock has a 50-day moving average of $6.20 and a two-hundred day moving average of $6.75. Concrete Pumping has a one year low of $5.05 and a one year high of $9.15. The firm has a market capitalization of $306.85 million, a PE ratio of 18.29 and a beta of 1.11. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.19.

Concrete Pumping (NASDAQ:BBCP) last announced 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 company had revenue of $109.62 million during the quarter, compared to the consensus estimate of $126.10 million. During the same quarter last year, the company earned $0.17 earnings per share. Analysts forecast that Concrete Pumping will post 0.27 earnings per share for the current year.

Institutional Trading of Concrete Pumping

Large investors have recently bought and sold shares of the stock. Swiss National Bank acquired a new position in Concrete Pumping in the fourth quarter worth $398,000. Private Advisor Group LLC acquired a new position in Concrete Pumping in the fourth quarter worth $101,000. Janney Montgomery Scott LLC boosted its stake in Concrete Pumping by 15.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 55,041 shares of the company’s stock worth $451,000 after purchasing an additional 7,520 shares in the last quarter. Trexquant Investment LP acquired a new position in Concrete Pumping in the fourth quarter worth $151,000. Finally, Aristides Capital LLC boosted its stake in Concrete Pumping by 12.7% in the fourth quarter. Aristides Capital LLC now owns 53,845 shares of the company’s stock worth $442,000 after purchasing an additional 6,077 shares in the last quarter. 34.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.