Short Interest in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Decreases By 7.3%

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 306,500 shares, a decline of 7.3% from the August 31st total of 330,800 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average trading volume of 126,500 shares, the short-interest ratio is currently 2.4 days.

Concrete Pumping Trading Up 1.7 %

NASDAQ BBCP traded up $0.10 during trading on Friday, hitting $5.85. The company had a trading volume of 63,597 shares, compared to its average volume of 99,386. The company’s fifty day moving average is $6.08 and its 200-day moving average is $6.63. Concrete Pumping has a one year low of $5.05 and a one year high of $9.05. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.19. The company has a market cap of $316.60 million, a price-to-earnings ratio of 18.87 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). The company had revenue of $109.62 million during the quarter, compared to the consensus estimate of $126.10 million. Concrete Pumping had a return on equity of 6.17% and a net margin of 3.72%. During the same period in the previous year, the company earned $0.17 earnings per share. On average, sell-side analysts predict that Concrete Pumping will post 0.27 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Concrete Pumping

Several hedge funds have recently made changes to their positions in the company. Swiss National Bank purchased a new position in Concrete Pumping during the fourth quarter valued at $398,000. Janney Montgomery Scott LLC increased its stake in shares of Concrete Pumping by 15.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 55,041 shares of the company’s stock valued at $451,000 after purchasing an additional 7,520 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Concrete Pumping during the fourth quarter valued at approximately $151,000. Aristides Capital LLC boosted its position in shares of Concrete Pumping by 12.7% in the 4th 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. Finally, Empowered Funds LLC raised its stake in Concrete Pumping by 8.2% during the first quarter. Empowered Funds LLC now owns 268,272 shares of the company’s stock valued at $2,119,000 after buying an additional 20,290 shares during the last quarter. 34.20% of the stock is currently owned by institutional investors.

About Concrete Pumping

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.