NWPX Infrastructure, Inc. (NASDAQ:NWPX) Short Interest Update

NWPX Infrastructure, Inc. (NASDAQ:NWPX) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 149,704 shares, a growth of 24.6% from the February 26th total of 120,109 shares. Based on an average daily volume of 112,414 shares, the days-to-cover ratio is currently 1.3 days. Approximately 1.6% of the company’s stock are short sold.

NWPX Infrastructure Stock Performance

NASDAQ:NWPX traded up $2.12 during trading on Tuesday, reaching $77.86. The company’s stock had a trading volume of 85,267 shares, compared to its average volume of 131,943. NWPX Infrastructure has a 12 month low of $36.97 and a 12 month high of $83.12. The firm has a market cap of $745.12 million, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 1.63 and a beta of 0.92. The firm has a 50 day moving average of $73.70 and a 200-day moving average of $63.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.66 and a current ratio of 3.78.

NWPX Infrastructure (NASDAQ:NWPX) last released its earnings results on Wednesday, February 25th. The industrial products company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.31. The company had revenue of $125.64 million for the quarter, compared to analysts’ expectations of $122.00 million. NWPX Infrastructure had a return on equity of 9.27% and a net margin of 6.73%. Research analysts expect that NWPX Infrastructure will post 3.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Megan A. Kendrick sold 4,500 shares of NWPX Infrastructure stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $80.59, for a total transaction of $362,655.00. Following the transaction, the vice president owned 6,996 shares of the company’s stock, valued at $563,807.64. The trade was a 39.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Miles Brittain sold 4,000 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $71.01, for a total value of $284,040.00. Following the completion of the sale, the executive vice president directly owned 23,306 shares of the company’s stock, valued at $1,654,959.06. The trade was a 14.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,273 shares of company stock worth $1,490,019 over the last three months. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC purchased a new position in NWPX Infrastructure in the third quarter valued at approximately $1,053,000. LSV Asset Management raised its stake in shares of NWPX Infrastructure by 166.9% in the third quarter. LSV Asset Management now owns 69,400 shares of the industrial products company’s stock valued at $3,673,000 after buying an additional 43,398 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of NWPX Infrastructure by 67.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 85,527 shares of the industrial products company’s stock valued at $4,527,000 after buying an additional 34,526 shares during the period. Geode Capital Management LLC lifted its position 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 valued at $9,870,000 after buying an additional 11,342 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of NWPX Infrastructure by 3.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 33,819 shares of the industrial products company’s stock worth $1,387,000 after acquiring an additional 1,040 shares during the period. 80.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on NWPX. Wall Street Zen lowered shares of NWPX Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. DA Davidson upped their price objective on shares of NWPX Infrastructure from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Zacks Research upgraded shares of NWPX Infrastructure from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 2nd. Finally, Weiss Ratings raised shares of NWPX Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, March 24th. Two equities research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy” and a consensus price target of $90.00.

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.