Short Interest in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Drops By 7.5%

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP – Get Rating) was the recipient of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 812,600 shares, a decrease of 7.5% from the February 13th total of 878,300 shares. Approximately 3.3% of the company’s shares are sold short. Based on an average daily volume of 105,000 shares, the days-to-cover ratio is currently 7.7 days.

Concrete Pumping Stock Performance

NASDAQ BBCP opened at $7.09 on Friday. The stock has a market cap of $392.86 million, a PE ratio of 12.02 and a beta of 1.08. Concrete Pumping has a twelve month low of $4.64 and a twelve month high of $8.24. The stock has a fifty day simple moving average of $7.42 and a 200-day simple moving average of $6.91. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 1.29.

Concrete Pumping (NASDAQ:BBCP – Get Rating) last announced its quarterly earnings results on Monday, January 23rd. The company reported $0.14 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.14. Concrete Pumping had a net margin of 8.56% and a return on equity of 10.54%. The business had revenue of $114.89 million during the quarter, compared to analysts’ expectations of $102.16 million. Equities analysts anticipate that Concrete Pumping will post 0.53 earnings per share for the current year.

Analysts Set New Price Targets

BBCP has been the topic of several recent analyst reports. TheStreet lowered shares of Concrete Pumping from a “b-” rating to a “c+” rating in a report on Tuesday, December 27th. Robert W. Baird lifted their price target on shares of Concrete Pumping from $7.50 to $8.00 in a research report on Friday, March 10th.

Institutional Trading of Concrete Pumping

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Concrete Pumping by 47.4% in the third quarter. Barclays PLC now owns 5,982 shares of the company’s stock valued at $39,000 after buying an additional 1,925 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Concrete Pumping by 54.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,536 shares of the company’s stock valued at $40,000 after acquiring an additional 2,295 shares in the last quarter. Financial Partners Group LLC purchased a new stake in Concrete Pumping during the fourth quarter worth about $58,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Concrete Pumping during the fourth quarter worth about $60,000. Finally, UBS Group AG boosted its stake in shares of Concrete Pumping by 409.2% in the fourth quarter. UBS Group AG now owns 10,570 shares of the company’s stock valued at $62,000 after purchasing an additional 8,494 shares during the period. Hedge funds and other institutional investors own 35.37% of the company’s stock.

About Concrete Pumping

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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.