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

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) was the target 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. Approximately 1.4% of the company’s shares are sold short. Based on an average daily volume of 115,100 shares, the short-interest ratio is presently 2.9 days.

Concrete Pumping Trading Up 2.1 %

NASDAQ:BBCP opened at $5.88 on Friday. The business’s 50-day simple moving average is $5.88 and its 200-day simple moving average is $6.43. Concrete Pumping has a fifty-two week low of $5.05 and a fifty-two week high of $8.73. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.54 and a quick ratio of 1.44. The stock has a market capitalization of $318.22 million, a PE ratio of 18.97 and a beta of 1.11.

Concrete Pumping (NASDAQ:BBCP) last announced 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). Concrete Pumping had a net margin of 3.72% and a return on equity of 6.17%. The company had revenue of $109.62 million during the quarter, compared to the consensus estimate of $126.10 million. During the same period in the previous year, the firm posted $0.17 EPS. Sell-side analysts expect that Concrete Pumping will post 0.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Robert W. Baird decreased their target price on Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, September 5th. DA Davidson reduced their price objective on shares of Concrete Pumping from $9.00 to $8.50 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Finally, UBS Group downgraded shares of Concrete Pumping from a “buy” rating to a “neutral” rating and lowered their target price for the company from $10.50 to $6.25 in a research note on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Concrete Pumping currently has a consensus rating of “Hold” and a consensus target price of $7.55.

Hedge Funds Weigh In On Concrete Pumping

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new position in Concrete Pumping during the 2nd quarter worth approximately $26,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Concrete Pumping in the second quarter worth $42,000. Quadrature Capital Ltd acquired a new position in Concrete Pumping during the first quarter worth $180,000. Hsbc Holdings PLC grew its position in Concrete Pumping by 39.1% in the second 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 in the last quarter. Finally, Rhumbline Advisers increased its stake in Concrete Pumping by 4.4% in the 2nd quarter. Rhumbline Advisers now owns 38,239 shares of the company’s stock valued at $230,000 after buying an additional 1,623 shares during the last quarter. 34.20% of the stock is owned by institutional investors and hedge funds.

Concrete Pumping Company Profile

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.