Short Interest in Northwest Pipe (NASDAQ:NWPX) Declines By 9.5%

Northwest Pipe (NASDAQ:NWPX) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 211,200 shares, a decrease of 9.5% from the July 31st total of 233,300 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average trading volume of 25,400 shares, the short-interest ratio is presently 8.3 days.

NWPX has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Northwest Pipe from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a report on Friday, August 9th. ValuEngine raised shares of Northwest Pipe from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, BidaskClub raised shares of Northwest Pipe from a “hold” rating to a “buy” rating in a report on Friday, August 16th.

NWPX traded up $0.12 during trading hours on Friday, reaching $28.01. 16,715 shares of the stock traded hands, compared to its average volume of 35,407. The firm’s fifty day simple moving average is $24.54 and its two-hundred day simple moving average is $24.70. The company has a market cap of $254.63 million, a price-to-earnings ratio of -155.61 and a beta of 0.75. Northwest Pipe has a fifty-two week low of $16.52 and a fifty-two week high of $28.12.

Northwest Pipe (NASDAQ:NWPX) last released its quarterly earnings results on Monday, August 5th. The industrial products company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.08). The firm had revenue of $69.20 million for the quarter, compared to analyst estimates of $62.00 million. Northwest Pipe had a net margin of 13.68% and a return on equity of 4.45%. Analysts predict that Northwest Pipe will post 1.51 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacific Ridge Capital Partners LLC grew its holdings in Northwest Pipe by 0.4% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 253,582 shares of the industrial products company’s stock valued at $6,537,000 after purchasing an additional 898 shares in the last quarter. Kennedy Capital Management Inc. boosted its stake in Northwest Pipe by 17.0% during the 1st quarter. Kennedy Capital Management Inc. now owns 173,708 shares of the industrial products company’s stock valued at $4,169,000 after acquiring an additional 25,272 shares during the last quarter. Foundry Partners LLC boosted its stake in Northwest Pipe by 1.9% during the 2nd quarter. Foundry Partners LLC now owns 278,670 shares of the industrial products company’s stock valued at $7,184,000 after acquiring an additional 5,150 shares during the last quarter. Bank of America Corp DE boosted its stake in Northwest Pipe by 32.1% during the 4th quarter. Bank of America Corp DE now owns 7,029 shares of the industrial products company’s stock valued at $164,000 after acquiring an additional 1,709 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Northwest Pipe by 93.4% during the 2nd quarter. First Trust Advisors LP now owns 32,849 shares of the industrial products company’s stock valued at $847,000 after acquiring an additional 15,862 shares during the last quarter. 77.72% of the stock is owned by institutional investors and hedge funds.

Northwest Pipe Company Profile

Northwest Pipe Company manufactures engineered welded steel pipe water systems in North America. It produces large-diameter, high-pressure, and engineered welded steel pipeline systems for use in drinking water infrastructure; and pipes for piling and hydroelectric projects, water and wastewater treatment plants, and other applications, as well as for industrial plant piping systems and structural applications.

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