Short Interest in NWPX Infrastructure, Inc. (NASDAQ:NWPX) Drops By 24.9%

NWPX Infrastructure, Inc. (NASDAQ:NWPX) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 95,672 shares, a drop of 24.9% from the December 15th total of 127,465 shares. Based on an average daily volume of 60,306 shares, the short-interest ratio is presently 1.6 days. Currently, 1.0% of the company’s shares are short sold. Currently, 1.0% of the company’s shares are short sold. Based on an average daily volume of 60,306 shares, the short-interest ratio is presently 1.6 days.

NWPX Infrastructure Stock Down 0.2%

Shares of NWPX traded down $0.16 during mid-day trading on Friday, hitting $69.11. 78,305 shares of the company’s stock were exchanged, compared to its average volume of 60,020. The stock’s 50-day moving average is $61.45 and its 200-day moving average is $53.93. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.62 and a current ratio of 3.60. NWPX Infrastructure has a fifty-two week low of $36.97 and a fifty-two week high of $70.30. The company has a market cap of $664.15 million, a price-to-earnings ratio of 18.78, a P/E/G ratio of 1.64 and a beta of 0.94.

NWPX Infrastructure (NASDAQ:NWPX) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.36. NWPX Infrastructure had a net margin of 7.04% and a return on equity of 9.65%. The firm had revenue of $151.07 million for the quarter, compared to the consensus estimate of $132.01 million. On average, sell-side analysts anticipate that NWPX Infrastructure will post 3.32 earnings per share for the current fiscal year.

Insider Activity

In other NWPX Infrastructure news, EVP Miles Brittain sold 4,000 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $56.41, for a total value of $225,640.00. Following the transaction, the executive vice president directly owned 25,725 shares in the company, valued at $1,451,147.25. The trade was a 13.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael C. Franson sold 5,506 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $60.17, for a total transaction of $331,296.02. Following the sale, the director owned 18,525 shares of the company’s stock, valued at $1,114,649.25. This represents a 22.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 28,001 shares of company stock valued at $1,631,008 over the last three months. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NWPX Infrastructure

Large investors have recently bought and sold shares of the stock. Ellsworth Advisors LLC acquired a new stake in NWPX Infrastructure in the 4th quarter valued at about $1,031,000. Allspring Global Investments Holdings LLC raised its holdings in NWPX Infrastructure by 19.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 101,961 shares of the industrial products company’s stock worth $6,372,000 after purchasing an additional 16,434 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of NWPX Infrastructure during the 4th quarter worth approximately $78,000. Byrne Asset Management LLC boosted its holdings in shares of NWPX Infrastructure by 58.0% in the 4th quarter. Byrne Asset Management LLC now owns 4,192 shares of the industrial products company’s stock valued at $262,000 after buying an additional 1,539 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of NWPX Infrastructure by 99.5% in the 4th quarter. SG Americas Securities LLC now owns 4,842 shares of the industrial products company’s stock valued at $303,000 after buying an additional 2,415 shares during the last quarter. Hedge funds and other institutional investors own 80.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NWPX shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of NWPX Infrastructure in a report on Wednesday, October 8th. DA Davidson upped their target price on shares of NWPX Infrastructure from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Wall Street Zen upgraded shares of NWPX Infrastructure from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Northland Capmk upgraded shares of NWPX Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.00.

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.