Short Interest in Northwest Pipe (NASDAQ:NWPX) Declines By 12.1%

Northwest Pipe (NASDAQ:NWPX) was the recipient of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 132,800 shares, a decrease of 12.1% from the January 31st total of 151,000 shares. Based on an average daily volume of 65,400 shares, the days-to-cover ratio is currently 2.0 days. Approximately 1.4% of the company’s stock are short sold.

Northwest Pipe Stock Performance

Shares of NASDAQ NWPX traded down $0.27 during midday trading on Thursday, reaching $41.51. The company had a trading volume of 45,704 shares, compared to its average volume of 80,706. Northwest Pipe has a 1 year low of $31.16 and a 1 year high of $57.76. The business’s 50-day simple moving average is $48.64 and its 200 day simple moving average is $48.07. The company has a current ratio of 3.20, a quick ratio of 2.27 and a debt-to-equity ratio of 0.17. The stock has a market cap of $411.70 million, a P/E ratio of 14.12, a P/E/G ratio of 2.85 and a beta of 1.05.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. StockNews.com lowered Northwest Pipe from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Northland Securities boosted their price objective on shares of Northwest Pipe from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Finally, Sidoti raised Northwest Pipe to a “hold” rating in a research report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $47.50.

Hedge Funds Weigh In On Northwest Pipe

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in shares of Northwest Pipe by 35.9% in the fourth quarter. American Century Companies Inc. now owns 217,479 shares of the industrial products company’s stock valued at $10,496,000 after purchasing an additional 57,398 shares during the period. Millennium Management LLC boosted its position in Northwest Pipe by 73.4% in the fourth quarter. Millennium Management LLC now owns 116,792 shares of the industrial products company’s stock valued at $5,636,000 after buying an additional 49,446 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Northwest Pipe by 5.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 808,713 shares of the industrial products company’s stock worth $39,029,000 after buying an additional 43,659 shares during the period. Zacks Investment Management purchased a new position in Northwest Pipe during the 3rd quarter worth approximately $1,607,000. Finally, Renaissance Technologies LLC raised its position in Northwest Pipe by 198.1% during the 4th quarter. Renaissance Technologies LLC now owns 32,200 shares of the industrial products company’s stock worth $1,554,000 after buying an additional 21,400 shares during the last quarter. Hedge funds and other institutional investors own 80.63% of the company’s stock.

Northwest Pipe Company Profile

Northwest Pipe Company, together with its subsidiaries, engages in the manufacture and supply of water-related infrastructure products in North America. It operates in two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment offers large-diameter and high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems.