Concrete Pumping Holdings Inc (NASDAQ:BBCP) Short Interest Update

Concrete Pumping Holdings Inc (NASDAQ:BBCP) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 751,900 shares, an increase of 7.7% from the December 15th total of 698,400 shares. Based on an average daily trading volume, of 100,200 shares, the short-interest ratio is currently 7.5 days. Currently, 2.8% of the shares of the company are short sold.

Several institutional investors and hedge funds have recently bought and sold shares of BBCP. Millennium Management LLC boosted its position in shares of Concrete Pumping by 101.6% in the third quarter. Millennium Management LLC now owns 24,180 shares of the company’s stock worth $95,000 after purchasing an additional 1,544,180 shares during the period. Highbridge Capital Management LLC bought a new position in shares of Concrete Pumping in the second quarter worth approximately $6,218,000. Vanguard Group Inc. boosted its position in shares of Concrete Pumping by 877.6% in the second quarter. Vanguard Group Inc. now owns 1,331,311 shares of the company’s stock worth $6,816,000 after purchasing an additional 1,195,136 shares during the period. BlackRock Inc. bought a new position in shares of Concrete Pumping in the second quarter worth approximately $2,798,000. Finally, ICM Asset Management Inc. WA bought a new position in shares of Concrete Pumping in the third quarter worth approximately $881,000. Institutional investors and hedge funds own 26.39% of the company’s stock.

A number of brokerages have commented on BBCP. Zacks Investment Research cut shares of Concrete Pumping from a “hold” rating to a “sell” rating in a report on Tuesday, December 17th. B. Riley reaffirmed a “buy” rating and set a $7.00 target price on shares of Concrete Pumping in a report on Friday, November 22nd. Finally, ValuEngine cut shares of Concrete Pumping from a “strong-buy” rating to a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Concrete Pumping currently has a consensus rating of “Buy” and an average target price of $7.08.

Shares of BBCP traded down $0.18 during mid-day trading on Thursday, reaching $5.00. The stock had a trading volume of 51,755 shares, compared to its average volume of 73,606. Concrete Pumping has a 12 month low of $3.16 and a 12 month high of $12.73. The business has a fifty day moving average of $5.04 and a 200 day moving average of $4.28. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.60 and a current ratio of 0.65.

Concrete Pumping (NASDAQ:BBCP) last posted its quarterly earnings results on Tuesday, January 14th. The company reported $0.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.04). The firm had revenue of $83.95 million during the quarter, compared to the consensus estimate of $84.38 million. Concrete Pumping had a negative return on equity of 1.83% and a negative net margin of 1.68%. Equities analysts forecast that Concrete Pumping will post 0.21 earnings per share for the current fiscal year.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc provides concrete pumping and concrete waste management services. The company offers concrete pumping services under the Brundage-Bone brand and concrete waste management services under the Eco-Pan brand in the United States; and concrete pumping services under the Camfaud brand in the United Kingdom.

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