NWPX Infrastructure, Inc. (NASDAQ:NWPX) Sees Large Decline in Short Interest

NWPX Infrastructure, Inc. (NASDAQ:NWPX) was the target of a large decline in short interest in February. As of February 13th, there was short interest totaling 131,841 shares, a decline of 15.0% from the January 29th total of 155,123 shares. Based on an average daily volume of 98,514 shares, the short-interest ratio is currently 1.3 days. Currently, 1.4% of the company’s stock are sold short. Currently, 1.4% of the company’s stock are sold short. Based on an average daily volume of 98,514 shares, the short-interest ratio is currently 1.3 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NWPX shares. Weiss Ratings cut shares of NWPX Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 19th. Wall Street Zen upgraded NWPX Infrastructure from a “buy” rating to a “strong-buy” rating in a report on Saturday. DA Davidson increased their price objective on NWPX Infrastructure from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Monday. Finally, Zacks Research raised NWPX Infrastructure from a “hold” rating to a “strong-buy” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $90.00.

Insider Activity at NWPX Infrastructure

In other NWPX Infrastructure news, Director Michael C. Franson sold 5,506 shares of NWPX Infrastructure stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $60.17, for a total value of $331,296.02. Following the transaction, the director owned 18,525 shares of the company’s stock, valued at approximately $1,114,649.25. The trade was a 22.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Aaron Wilkins sold 5,009 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $59.90, for a total transaction of $300,039.10. Following the completion of the transaction, the chief financial officer owned 19,753 shares of the company’s stock, valued at $1,183,204.70. This trade represents a 20.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 11,791 shares of company stock valued at $708,142 over the last quarter. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On NWPX Infrastructure

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new position in NWPX Infrastructure during the third quarter worth approximately $28,000. Wexford Capital LP bought a new position in shares of NWPX Infrastructure during the 3rd quarter worth approximately $29,000. Simplex Trading LLC increased its holdings in shares of NWPX Infrastructure by 193.9% during the 4th quarter. Simplex Trading LLC now owns 485 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 320 shares during the last quarter. CWM LLC increased its holdings in shares of NWPX Infrastructure by 75.8% during the 3rd quarter. CWM LLC now owns 582 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 251 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in NWPX Infrastructure in the 4th quarter valued at $71,000. Institutional investors own 80.63% of the company’s stock.

NWPX Infrastructure Stock Up 0.4%

NWPX stock traded up $0.30 during mid-day trading on Wednesday, reaching $81.26. The company had a trading volume of 44,071 shares, compared to its average volume of 86,874. The company has a market capitalization of $777.66 million, a price-to-earnings ratio of 22.64, a PEG ratio of 1.76 and a beta of 0.92. NWPX Infrastructure has a 52 week low of $36.97 and a 52 week high of $83.12. The stock has a 50 day simple moving average of $69.70 and a two-hundred day simple moving average of $60.48. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.60 and a quick ratio of 2.62.

NWPX Infrastructure (NASDAQ:NWPX) last announced its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.31. The company had revenue of $125.64 million for the quarter, compared to analysts’ expectations of $122.00 million. NWPX Infrastructure had a return on equity of 9.35% and a net margin of 6.73%. As a group, equities analysts predict that NWPX Infrastructure will post 3.32 earnings per share for the current fiscal year.

About NWPX Infrastructure

Northwest Pipe Company, together with its subsidiaries, engages in the manufacture and supply of water-related infrastructure products in North America. It operates in two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment offers large-diameter and high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems. Its products are also used for hydroelectric power systems, wastewater systems, seismic resiliency, and other applications.