Short Interest in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Drops By 6.7%

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP – Get Rating) was the recipient of a significant drop in short interest in February. As of February 15th, there was short interest totalling 878,300 shares, a drop of 6.7% from the January 31st total of 941,400 shares. Approximately 3.5% of the company’s stock are short sold. Based on an average trading volume of 106,900 shares, the days-to-cover ratio is currently 8.2 days.

Wall Street Analysts Forecast Growth

BBCP has been the subject of several research analyst reports. TheStreet downgraded Concrete Pumping from a “b-” rating to a “c+” rating in a report on Tuesday, December 27th. Robert W. Baird lifted their price objective on Concrete Pumping from $7.00 to $7.50 and gave the stock an “outperform” rating in a report on Tuesday, January 24th.

Concrete Pumping Price Performance

NASDAQ BBCP opened at $7.75 on Wednesday. Concrete Pumping has a one year low of $4.64 and a one year high of $8.24. The stock has a 50-day moving average of $7.22 and a 200 day moving average of $6.90. The company has a market capitalization of $429.43 million, a price-to-earnings ratio of 15.82 and a beta of 1.08. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.69 and a current ratio of 0.74.

Concrete Pumping (NASDAQ:BBCP – Get Rating) last announced its earnings results on Monday, January 23rd. The company reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14. The business had revenue of $114.89 million for the quarter, compared to analysts’ expectations of $102.16 million. Concrete Pumping had a return on equity of 8.82% and a net margin of 7.42%. On average, sell-side analysts forecast that Concrete Pumping will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC boosted its position in Concrete Pumping by 47.4% in the third quarter. Barclays PLC now owns 5,982 shares of the company’s stock worth $39,000 after purchasing an additional 1,925 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Concrete Pumping by 54.1% in the second quarter. BNP Paribas Arbitrage SA now owns 6,536 shares of the company’s stock worth $40,000 after purchasing an additional 2,295 shares during the last quarter. Financial Partners Group LLC purchased a new position in Concrete Pumping in the fourth quarter worth about $58,000. The Manufacturers Life Insurance Company purchased a new position in Concrete Pumping in the fourth quarter worth about $60,000. Finally, UBS Group AG lifted its position in shares of Concrete Pumping by 409.2% during the 4th quarter. UBS Group AG now owns 10,570 shares of the company’s stock valued at $62,000 after buying an additional 8,494 shares in the last quarter. 35.37% of the stock is owned by hedge funds and other institutional investors.

Concrete Pumping Company Profile

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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 Camfaud brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.