Short Interest in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Declines By 14.0%

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 291,300 shares, a decline of 14.0% from the June 30th total of 338,800 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average daily volume of 106,400 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BBCP shares. DA Davidson lowered their price objective on shares of Concrete Pumping from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Monday, June 10th. Robert W. Baird lowered their price target on Concrete Pumping from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Monday, June 10th. Stifel Nicolaus cut their price objective on Concrete Pumping from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Finally, William Blair cut Concrete Pumping from an “outperform” rating to a “market perform” rating in a report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.25.

Concrete Pumping Stock Down 0.3 %

Concrete Pumping stock traded down $0.02 during mid-day trading on Monday, reaching $6.53. 63,256 shares of the company’s stock were exchanged, compared to its average volume of 90,625. The company has a quick ratio of 1.17, a current ratio of 1.24 and a debt-to-equity ratio of 1.21. Concrete Pumping has a twelve month low of $5.58 and a twelve month high of $9.15. The company has a market cap of $353.40 million, a P/E ratio of 21.13 and a beta of 1.10. The company has a fifty day moving average of $6.56 and a 200-day moving average of $7.23.

Concrete Pumping (NASDAQ:BBCP) last announced its quarterly earnings data on Thursday, June 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). Concrete Pumping had a net margin of 4.25% and a return on equity of 6.83%. The company had revenue of $107.06 million during the quarter, compared to analyst estimates of $112.97 million. During the same quarter in the previous year, the business posted $0.09 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. Sell-side analysts expect that Concrete Pumping will post 0.39 EPS for the current year.

Insider Buying and Selling at Concrete Pumping

In related news, CEO Bruce F. Young sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $7.00, for a total transaction of $35,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,040,753 shares of the company’s stock, valued at approximately $14,285,271. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 27.40% of the company’s stock.

Hedge Funds Weigh In On Concrete Pumping

Institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. raised its holdings in Concrete Pumping by 2.2% in the fourth quarter. Federated Hermes Inc. now owns 98,942 shares of the company’s stock valued at $811,000 after acquiring an additional 2,093 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Concrete Pumping by 8.1% in the 1st 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 in the last quarter. Aristides Capital LLC lifted its position in shares of Concrete Pumping by 12.7% during the 4th quarter. Aristides Capital LLC now owns 53,845 shares of the company’s stock worth $442,000 after purchasing an additional 6,077 shares during the last quarter. Heirloom Wealth Management grew its stake in shares of Concrete Pumping by 20.1% during the fourth quarter. Heirloom Wealth Management now owns 59,254 shares of the company’s stock worth $486,000 after purchasing an additional 9,920 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new position in Concrete Pumping in the fourth quarter valued at $101,000. 34.20% of the stock is owned by institutional investors and hedge funds.

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.