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

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC raised its stake in shares of Concrete Pumping by 82.6% in the third quarter. Barclays PLC now owns 51,560 shares of the company’s stock worth $299,000 after acquiring an additional 23,329 shares during the last quarter. Geode Capital Management LLC raised its position in Concrete Pumping by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 564,751 shares of the company’s stock worth $3,270,000 after purchasing an additional 6,025 shares during the last quarter. Mill Road Capital Management LLC lifted its holdings in Concrete Pumping by 96.8% during the 3rd quarter. Mill Road Capital Management LLC now owns 1,070,405 shares of the company’s stock worth $6,198,000 after buying an additional 526,379 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in Concrete Pumping in the 3rd quarter valued at $2,933,000. Finally, JB Capital Partners LP lifted its stake in shares of Concrete Pumping by 26.2% during the third quarter. JB Capital Partners LP now owns 241,100 shares of the company’s stock valued at $1,396,000 after acquiring an additional 50,000 shares during the period. 34.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BBCP has been the subject of a number of recent research reports. Robert W. Baird cut their target price on Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating for the company in a research note on Thursday, September 5th. UBS Group cut shares of Concrete Pumping from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $10.50 to $6.25 in a research note on Friday, September 6th. Finally, DA Davidson decreased 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Concrete Pumping has a consensus rating of “Hold” and a consensus price target of $7.31.

Concrete Pumping Price Performance

Shares of NASDAQ BBCP traded up $0.04 during midday trading on Tuesday, reaching $7.20. 117,937 shares of the company traded hands, compared to its average volume of 95,085. Concrete Pumping has a 12 month low of $5.05 and a 12 month high of $8.48. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.44 and a current ratio of 1.54. The stock’s 50-day simple moving average is $5.82 and its 200-day simple moving average is $6.16. The firm has a market cap of $385.42 million, a PE ratio of 27.54 and a beta of 1.12.

Concrete Pumping (NASDAQ:BBCP) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.13 earnings per share (EPS) 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 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 period in the prior year, the business earned $0.17 earnings per share. As a group, equities analysts anticipate that Concrete Pumping will post 0.27 earnings per share for the current fiscal year.

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.