Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Short Interest Up 8.0% in September

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 331,000 shares, an increase of 8.0% from the September 15th total of 306,500 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily volume of 115,100 shares, the days-to-cover ratio is presently 2.9 days.

Concrete Pumping Trading Down 0.7 %

Shares of Concrete Pumping stock opened at $5.63 on Wednesday. Concrete Pumping has a 12-month low of $5.05 and a 12-month high of $8.85. The stock has a market capitalization of $304.69 million, a P/E ratio of 18.52 and a beta of 1.11. The company has a 50-day simple moving average of $5.90 and a 200 day simple moving average of $6.45. 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 posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.05). The firm had revenue of $109.62 million for the quarter, compared to analyst estimates 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 business posted $0.17 EPS. Research analysts expect that Concrete Pumping will post 0.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BBCP shares. DA Davidson lowered 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. Robert W. Baird lowered 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 shares of Concrete Pumping from a “buy” rating to a “neutral” rating and cut their price target for the stock from $10.50 to $6.25 in a research note on Friday, September 6th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Concrete Pumping has a consensus rating of “Hold” and a consensus price target of $7.55.

Hedge Funds Weigh In On Concrete Pumping

A number of institutional investors and hedge funds have recently bought and sold shares of BBCP. Epoch Investment Partners Inc. bought a new position in shares of Concrete Pumping in the first quarter valued at about $3,439,000. Park Avenue Securities LLC raised its stake in shares of Concrete Pumping by 100.0% in the second quarter. Park Avenue Securities LLC now owns 118,213 shares of the company’s stock worth $710,000 after acquiring an additional 59,107 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Concrete Pumping by 8.2% during the first quarter. Empowered Funds LLC now owns 268,272 shares of the company’s stock worth $2,119,000 after purchasing an additional 20,290 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Concrete Pumping by 8.1% during the first quarter. Janney Montgomery Scott LLC now owns 59,500 shares of the company’s stock valued at $470,000 after purchasing an additional 4,459 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Concrete Pumping by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,550,933 shares of the company’s stock valued at $9,322,000 after purchasing an additional 91,469 shares in the last quarter. Institutional investors and hedge funds own 34.20% of the company’s stock.

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.