Short Interest in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Declines By 20.2%

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 301,200 shares, a decline of 20.2% from the November 15th total of 377,500 shares. Based on an average daily trading volume, of 76,700 shares, the days-to-cover ratio is presently 3.9 days. Approximately 1.3% of the shares of the stock are short sold.

Concrete Pumping Price Performance

Shares of BBCP stock traded up $0.02 during mid-day trading on Friday, reaching $7.27. The stock had a trading volume of 33,946 shares, compared to its average volume of 94,216. Concrete Pumping has a 12-month low of $5.05 and a 12-month high of $8.48. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.19. The business has a 50-day simple moving average of $6.10 and a 200 day simple moving average of $6.19. The company has a market cap of $389.18 million, a P/E ratio of 27.96 and a beta of 1.13.

Hedge Funds Weigh In On Concrete Pumping

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its stake in shares of Concrete Pumping by 4.4% during the 2nd quarter. Rhumbline Advisers now owns 38,239 shares of the company’s stock worth $230,000 after purchasing an additional 1,623 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Concrete Pumping by 5.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 71,900 shares of the company’s stock valued at $432,000 after buying an additional 3,650 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Concrete Pumping during the second quarter worth $26,000. Heirloom Wealth Management raised its holdings in shares of Concrete Pumping by 8.8% in the third quarter. Heirloom Wealth Management now owns 70,688 shares of the company’s stock worth $409,000 after acquiring an additional 5,717 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Concrete Pumping by 1.1% in the third quarter. Geode Capital Management LLC now owns 564,751 shares of the company’s stock valued at $3,270,000 after acquiring an additional 6,025 shares in the last quarter. Institutional investors and hedge funds own 34.20% of the company’s stock.

Analyst Upgrades and Downgrades

BBCP has been the subject of several research analyst reports. Robert W. Baird reduced their target price on Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating for the company in a 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 for the company in a research note on Thursday, September 5th. Finally, UBS Group lowered shares of Concrete Pumping from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $10.50 to $6.25 in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.31.

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.