Concrete Pumping Holdings, Inc. (BBCP)’s Big Moment Looks Overdone

The stock of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) has been Initiated to Buy by Stifel in its latest research note that was published on May 23. BBCP was given a price target of $9, with other Wall Street analysts also giving their reports regarding the stock. William Blair, analysts launched coverage of BBCP stock with a Outperform rating, according to their flash note to investors on May 17

Concrete’s stock is covered by 4 analysts, with 3 of them rating the stock as Buy. It has been deemed to have strong buy by 1 of the analysts, none of them have rated it as a Hold while none of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only 3 analysts. 1 of them rated it as strong buy with none of them recommended investors to Hold on to the stock. Meanwhile, none analyst(s) rated it as a sell. The above data shows that BBCP has an average analyst rating of 1.25.

Concrete Pumping Holdings, Inc., which has current market capitalization of above $201 Million, published its last quarter earnings on April 30, 2019. The company was able to amass $61.99 million in revenue. This figure is $0.98 million more than what analysts had expected which was $62.97 million. During the first quarter of the year, Concrete also recorded $292.54 earnings per share (EPS) which is $292.54 above the $292.54 estimated by Thomson Reuter’s analyst, leading to a surprise factor of 294.15%.

BBCP surged by $0.26 during the normal trading session on Tuesday and reaching a high of $3.62 during the day while it closed the day at $3.58. The Concrete stock had a low trading volume of 0.13 million shares on that day, which is low compared to the average daily volume of 244.38M shares. BBCP has also gained 2.29% of its value over the past 7 days. However, the stock has declined by 34.31% in the 3 months of the year. Over the past six months meanwhile, it has lost 51.23% while it has lost 56.50% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -37.85% from its 3 months high price. However, taking another look at BBCP will indicate that it is trading +8.48% away from its 90-day low. Looking at the bigger picture, the Concrete Pumping Holdings, Inc. stock has dropped by -76.52% from its 52-week high while it has surged by +8.48% from its 52-week low price.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 11.52%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 14.36%. Over the past 20 days, Concrete’s Stochastic %K stood at 8.18% while its Stochastic %D was revealed to be 5.12%.