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

Key Points

• Short interest for Concrete Pumping Holdings increased by 28.1% in August, with 880,300 shares sold short, indicating potential bearish sentiment among investors.
• Several institutional investors have acquired new stakes in Concrete Pumping, highlighting growing interest in the company, with 34.20% of the stock now owned by these institutions.
• Wall Street analysts have upgraded their ratings for the stock, with a consensus target price of $7.50 and one analyst giving it a "Buy" rating, signaling potential bullish confidence in the company's future performance.

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP - Get Free Report) saw a large increase in short interest in August. As of August 15th, there was short interest totaling 880,300 shares, anincreaseof28.1% from the July 31st total of 687,000 shares. Based on an average daily volume of 96,100 shares, the short-interest ratio is presently 9.2 days. Currently,3.9% of the company's stock are sold short. Currently,3.9% of the company's stock are sold short. Based on an average daily volume of 96,100 shares, the short-interest ratio is presently 9.2 days.

Hedge Funds Weigh In On Concrete Pumping

Several institutional investors have recently modified their holdings of BBCP. Acadian Asset Management LLC purchased a new stake in Concrete Pumping during the 1st quarter valued at about $54,000. Cubist Systematic Strategies LLC bought a new position in Concrete Pumping during the 4th quarter valued at approximately $55,000. Strs Ohio bought a new position in Concrete Pumping during the 1st quarter valued at approximately $62,000. XTX Topco Ltd bought a new position in Concrete Pumping during the 1st quarter valued at approximately $69,000. Finally, Kathmere Capital Management LLC bought a new stake in shares of Concrete Pumping in the 2nd quarter worth $70,000. 34.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BBCP has been the topic of a number of recent research reports. DA Davidson increased their target price on Concrete Pumping from $8.00 to $8.50 and gave the stock a "buy" rating in a report on Monday. Zacks Research upgraded Concrete Pumping to a "hold" rating in a report on Tuesday, August 12th. Finally, Robert W. Baird increased their target price on Concrete Pumping from $6.00 to $6.50 and gave the stock a "neutral" rating in a report on Friday. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $7.50.

Concrete Pumping Price Performance

BBCP traded down $0.26 during trading on Tuesday, reaching $6.99. 17,092 shares of the company were exchanged, compared to its average volume of 148,320. The company's 50-day moving average is $6.88 and its two-hundred day moving average is $6.44. The company has a market cap of $363.69 million, a price-to-earnings ratio of 43.69 and a beta of 1.13. The company has a quick ratio of 1.64, a current ratio of 1.75 and a debt-to-equity ratio of 1.60. Concrete Pumping has a 12-month low of $4.78 and a 12-month high of $9.68.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) last announced its earnings results on Thursday, September 4th. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. The business had revenue of $103.68 million for the quarter, compared to analyst estimates of $99.76 million. Concrete Pumping had a return on equity of 4.19% and a net margin of 2.65%.During the same period in the prior year, the company earned $0.13 EPS. Concrete Pumping has set its FY 2025 guidance at EPS. Research analysts forecast that Concrete Pumping will post 0.43 earnings per share for the current fiscal year.

Concrete Pumping declared that its Board of Directors has approved a stock repurchase plan on Thursday, June 5th that permits the company to buyback $15.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 4.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its shares are undervalued.

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.

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