NWPX Infrastructure, Inc. (NASDAQ:NWPX) Sees Large Growth in Short Interest

NWPX Infrastructure, Inc. (NASDAQ:NWPX) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 137,850 shares, a growth of 44.1% from the December 31st total of 95,672 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average daily volume of 70,290 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily volume of 70,290 shares, the days-to-cover ratio is currently 2.0 days. Approximately 1.5% of the company’s shares are short sold.

NWPX Infrastructure Stock Up 1.9%

Shares of NASDAQ:NWPX traded up $1.30 during midday trading on Monday, reaching $68.75. The company had a trading volume of 80,374 shares, compared to its average volume of 75,612. The company has a quick ratio of 2.62, a current ratio of 3.60 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average price is $63.91 and its 200 day moving average price is $56.01. The stock has a market cap of $660.69 million, a PE ratio of 18.68, a P/E/G ratio of 1.60 and a beta of 0.96. NWPX Infrastructure has a 1-year low of $36.97 and a 1-year high of $70.61.

Analyst Upgrades and Downgrades

Several analysts recently commented on NWPX shares. Northland Securities raised NWPX Infrastructure from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 31st. DA Davidson raised their price target on NWPX Infrastructure from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Wall Street Zen upgraded NWPX Infrastructure from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of NWPX Infrastructure in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.00.

Insider Buying and Selling

In related news, EVP Miles Brittain sold 4,000 shares of NWPX Infrastructure stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $56.41, for a total transaction of $225,640.00. Following the transaction, the executive vice president owned 25,725 shares of the company’s stock, valued at $1,451,147.25. This trade represents a 13.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott J. Montross sold 8,210 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $57.27, for a total transaction of $470,186.70. Following the transaction, the chief executive officer owned 68,781 shares of the company’s stock, valued at approximately $3,939,087.87. This represents a 10.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 28,001 shares of company stock worth $1,631,008. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NWPX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of NWPX Infrastructure by 2.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 575,365 shares of the industrial products company’s stock valued at $30,453,000 after purchasing an additional 12,272 shares during the period. Royce & Associates LP raised its stake in NWPX Infrastructure by 7.1% in the third quarter. Royce & Associates LP now owns 537,188 shares of the industrial products company’s stock valued at $28,433,000 after buying an additional 35,768 shares during the period. Legal & General Group Plc lifted its position in shares of NWPX Infrastructure by 14.4% in the second quarter. Legal & General Group Plc now owns 323,819 shares of the industrial products company’s stock valued at $13,280,000 after buying an additional 40,751 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of NWPX Infrastructure by 2.6% during the 2nd quarter. American Century Companies Inc. now owns 246,430 shares of the industrial products company’s stock worth $10,106,000 after acquiring an additional 6,258 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of NWPX Infrastructure by 4.9% during the 2nd quarter. Geode Capital Management LLC now owns 240,631 shares of the industrial products company’s stock worth $9,870,000 after acquiring an additional 11,342 shares during the last quarter. 80.63% of the stock is currently owned by institutional investors and hedge funds.

NWPX Infrastructure 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. Its products are also used for hydroelectric power systems, wastewater systems, seismic resiliency, and other applications.