Baird took its Concrete Pumping Holdings [BBCP] rating to the equivalent of Outperform from Neutral, and the price target to $5, in a research note dated 2021-01-05. That figure represents around a 29.87% premium from where the company’s shares closed on Monday. Other analysts also revised their coverage, with B. Riley FBR’s analysts upgrading the shares from “a Neutral” rating to “a Buy” rating in a research note to investors issued in early September. Meanwhile, UBS had launched its coverage on BBCP with “Neutral”, in a research note produced for clients August 10, 2020. In addition, there was a downgrade from B. Riley FBR on April 03, 2020. The rater changed BBCP from “a Buy” to “a Neutral”.
Is Concrete Pumping Holdings Inc. [NASDAQ:BBCP] a Good Buy Right Now?
It should be noted that BBCP technical indicators for short, intermediate as well as long term progress have placed an overall average of 48% as Buy. The average signal changed from 8% Sell in the last week and compares with 8% Buy in the past month. Data from Concrete Pumping Holdings Inc.’s Trend Spotter indicated that the signals were Falling. The stock current average is 0.16 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.11 million shares while the medium term average advocated for Hold. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 93820.0 shares.
BBCP Price Performance
On Wall Street, Concrete Pumping Holdings Inc. [NASDAQ:BBCP] finished Monday’s session up 0.52% at $3.85. The stock went up to $3.94 at the same session while its lowest single day price was $3.754. In the last five days, it saw a rise of about 6.94%, Concrete Pumping Holdings Inc. shares gained by almost 0.52% since the beginning of the year. However, the share price has dropped to as low as -36.93% below its one year high. On 01/04/21, the company shares recorded $3.94, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $3.75. The company’s shares have declined by -27.50% in the past year. The 50-day SMA achieved is $3.58 while the 200-day SMA is $3.45. Volume gained to 0.16 million from 0.12 million in the previous session.
BBCP Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 3.76 level, and in case of violation of this particular level, it will cause more drop to 3.66 level. On the upper level, 4.03 is still the key resistance. The stock may increase to the subsequent resistance at 3.94. The Relative Strength Index (RSI) pinned on the 14-day chart is 58.63, implying a neutral technical stance while the MACD stands at 0.17, meaning price will decrease in the next trading period. Percent R indicator moved to 19.47%, implying bullish price movement. Stochastic %K at 79.30% suggest selling the stock.
What is the short interest in Concrete Pumping Holdings Inc.?
Short interest in the Concrete Pumping Holdings Inc. stock has surged, increasing by 0.12 million shares to total 0.43 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.54 million, data from Yahoo Finance shows. The decrease of -26.96% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.66% of the overall float for the stock.
BBCP Earnings Forecast For The Current Quarter
Concrete Pumping Holdings Inc. [BBCP] is expected to report strong earnings results for the quarter ending on Oct 2020. Consensus estimates give the company expected revenues of $79.93M and an earnings per share of $0.04 for Oct 2020. Looking further ahead, the company is expected to report revenue of $71.77M at an EPS of -$0.02 for Jan 2021. The estimates represent downside of 1.00% and 112.30% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
BBCP Earnings Estimates For The Current Year
For the financial year, Concrete Pumping Holdings Inc. [NASDAQ:BBCP] is expected to bring in revenue of $305.04M. The returns are nearly $22.08 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -1.06, lower than that of FY19 by -$0.23. Estimates put this year’s earnings growth at -27.70%, 112.30% for the next. As for sales, forecasts are for an increase of 7.80% in the current fiscal year and a further 1.00% over the following year.