The stock is trading at $14.41 significantly above the 50 day moving average which is $11.80 and which is quite a bit above the 200 day moving average of $10.92. The 50 day moving average was up $2.61 or +22.07% and the 200 day average moved up $3.49. Sterling Construction Company I shares had a trading volume of 488K on Wednesday. Volume was up 220.80% over the stocks average daily volume.
Traders are a little more bearish on shares of Sterling Construction Company I looking at the uptick in short interest. The company saw a rise in short interest between August 15, 2017 and August 31, 2017 of 6.56%. Short shares grew from 892,506 to 951,034 over that period. The short-interest ratio decreased to 2.0 and the percentage of shorted shares was 0.04% on August 31.
A few notable investment firms have updated their holdings. As of the end of the quarter Trexquant Investment Lp had acquired a total of 8,226 shares growing its position 41.2%. The value in dollars went from $185,000 to $369,000 a change of $184,000 quarter to quarter. As of quarter end Ubs Group Ag had bought 800 shares growing its holdings by 40.3%. The value of the total investment in Sterling Construction Company I increased from $18,000 to $36,000 increasing 100.0% for the reporting period.
As of the end of the quarter Pacific Ridge Capital Partners, LLC had sold 36,250 shares trimming its stake by 6.6%. The value of the investment in Sterling Construction Company I went from $5,054,000 to $6,668,000 a change of 31.9% quarter over quarter. Alphaone Investment Services, LLC bolstered its ownership by buying 10,650 shares an increase of 2.2% in the quarter. Alphaone Investment Services, LLC now controls 486,074 shares with a value of $6,354,000. The total value of its holdings increased 44.5%.
In the latest earnings report the EPS was $-0.10 and is projected to be $0.39 for the current year with 27,030,000 shares now outstanding. Next quarter’s EPS is forecasted at $0.11 and the next full year EPS is projected to be $0.96.
Sterling Construction Company, Inc., launched on April 1, 1991, is a heavy civil construction company engaged in the building and reconstruction of transportation and water infrastructure projects in Texas, Utah, Nevada, Arizona, California, Hawaii and other states. The Business’s transportation infrastructure projects include highways, roads, bridges, airfields, ports and light rail. Its water infrastructure projects include water, wastewater and storm drainage systems. The Company operates through heavy civil construction segment. The Company provides its services by using traditional general contracting arrangements, such as lump sum contracts and cost-plus contracts..