Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Short Interest Up 15.4% in November

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) saw a significant growth in short interest in November. As of November 15th, there was short interest totalling 377,500 shares, a growth of 15.4% from the October 31st total of 327,100 shares. Currently, 1.7% of the company’s shares are sold short. Based on an average daily trading volume, of 78,500 shares, the days-to-cover ratio is currently 4.8 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new position in Concrete Pumping in the 2nd quarter worth $26,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Concrete Pumping in the third quarter valued at about $36,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Concrete Pumping in the second quarter worth about $42,000. Quadrature Capital Ltd acquired a new position in shares of Concrete Pumping during the 1st quarter worth about $180,000. Finally, Hsbc Holdings PLC boosted its stake in Concrete Pumping by 39.1% during the 2nd quarter. Hsbc Holdings PLC now owns 31,567 shares of the company’s stock valued at $195,000 after purchasing an additional 8,866 shares during the period. Institutional investors and hedge funds own 34.20% of the company’s stock.

Concrete Pumping Stock Up 0.6 %

Shares of BBCP traded up $0.04 during midday trading on Tuesday, reaching $7.20. 117,937 shares of the stock were exchanged, compared to its average volume of 95,085. The company has a market cap of $385.42 million, a price-to-earnings ratio of 27.54 and a beta of 1.12. 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 has a 12-month low of $5.05 and a 12-month high of $8.48. The firm has a 50 day simple moving average of $5.82 and a 200-day simple moving average of $6.16.

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). The business had revenue of $109.62 million for the quarter, compared to the consensus estimate of $126.10 million. Concrete Pumping had a net margin of 3.72% and a return on equity of 6.17%. During the same quarter in the prior year, the business posted $0.17 EPS. Research analysts forecast that Concrete Pumping will post 0.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BBCP. DA Davidson dropped their target price on shares of Concrete Pumping from $9.00 to $8.50 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Robert W. Baird cut their target price on shares of Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, UBS Group cut 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 report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.31.

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.