Northwest Pipe (NASDAQ:NWPX) Short Interest Down 12.1% in February

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

Analyst Upgrades and Downgrades

NWPX has been the topic of several recent analyst reports. Sidoti upgraded shares of Northwest Pipe to a “hold” rating in a report on Tuesday, February 25th. Northland Securities boosted their target price on Northwest Pipe from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Finally, StockNews.com cut shares of Northwest Pipe from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th.

Institutional Trading of Northwest Pipe

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aquatic Capital Management LLC bought a new stake in Northwest Pipe in the fourth quarter worth $30,000. Covestor Ltd grew its stake in Northwest Pipe by 1,857.6% in the third quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 613 shares in the last quarter. AlphaQuest LLC bought a new position in shares of Northwest Pipe during the 4th quarter worth $31,000. Point72 Asset Management L.P. bought a new position in shares of Northwest Pipe during the fourth quarter valued at approximately $53,000. Finally, Tower Research Capital LLC TRC boosted its position in Northwest Pipe by 33.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 319 shares in the last quarter. Institutional investors own 80.63% of the company’s stock.

Northwest Pipe Price Performance

NASDAQ:NWPX opened at $40.84 on Friday. The business’s 50-day simple moving average is $48.31 and its two-hundred day simple moving average is $47.98. The stock has a market cap of $405.75 million, a PE ratio of 13.89, a P/E/G ratio of 2.85 and a beta of 1.09. Northwest Pipe has a 52 week low of $31.16 and a 52 week high of $57.76. The company has a quick ratio of 2.27, a current ratio of 3.20 and a debt-to-equity ratio of 0.17.

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.