Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Sees Significant Growth in Short Interest

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 596,200 shares, a growth of 23.3% from the February 28th total of 483,500 shares. Currently, 2.7% of the company’s shares are sold short. Based on an average daily trading volume, of 197,500 shares, the days-to-cover ratio is currently 3.0 days.

Insider Buying and Selling at Concrete Pumping

In related news, CEO Bruce F. Young bought 49,507 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $5.19 per share, with a total value of $256,941.33. Following the completion of the transaction, the chief executive officer now owns 1,722,622 shares of the company’s stock, valued at approximately $8,940,408.18. The trade was a 2.96 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 26.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Concrete Pumping

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mill Road Capital Management LLC increased its position in shares of Concrete Pumping by 96.8% during the third quarter. Mill Road Capital Management LLC now owns 1,070,405 shares of the company’s stock worth $6,198,000 after acquiring an additional 526,379 shares during the last quarter. Seven Six Capital Management LLC acquired a new stake in Concrete Pumping during the 4th quarter valued at approximately $3,500,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in Concrete Pumping during the 3rd quarter worth approximately $2,933,000. Royce & Associates LP raised its position in shares of Concrete Pumping by 13.9% in the 4th quarter. Royce & Associates LP now owns 1,448,577 shares of the company’s stock valued at $9,648,000 after purchasing an additional 176,490 shares in the last quarter. Finally, First Eagle Investment Management LLC purchased a new position in shares of Concrete Pumping during the 4th quarter valued at approximately $1,170,000. Hedge funds and other institutional investors own 34.20% of the company’s stock.

Concrete Pumping Trading Up 1.9 %

NASDAQ BBCP opened at $5.46 on Tuesday. The firm has a market capitalization of $289.66 million, a price-to-earnings ratio of 21.00 and a beta of 1.25. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.89 and a current ratio of 1.99. Concrete Pumping has a one year low of $4.78 and a one year high of $9.68. The company’s 50 day moving average price is $6.83 and its 200 day moving average price is $6.51.

Concrete Pumping (NASDAQ:BBCP) last released its quarterly earnings data on Wednesday, January 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Concrete Pumping had a net margin of 3.81% and a return on equity of 6.19%. On average, sell-side analysts predict that Concrete Pumping will post 0.43 EPS for the current year.

Concrete Pumping Announces Dividend

The business also recently disclosed a dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 24th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, January 24th.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BBCP shares. Robert W. Baird cut their price target on shares of Concrete Pumping from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. DA Davidson cut their target price on Concrete Pumping from $9.50 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Concrete Pumping has a consensus rating of “Hold” and an average target price of $7.44.

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.