Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) Short Interest Update

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 38,300 shares, a growth of 23.9% from the November 30th total of 30,900 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily trading volume, of 46,400 shares, the short-interest ratio is presently 0.8 days.

Perma-Pipe International Stock Down 1.8 %

Shares of NASDAQ:PPIH traded down $0.27 during trading on Tuesday, hitting $14.95. The company’s stock had a trading volume of 20,202 shares, compared to its average volume of 22,957. The company has a market capitalization of $119.35 million, a PE ratio of 7.87 and a beta of 0.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.50 and a current ratio of 1.78. The stock’s 50-day moving average price is $14.94 and its two-hundred day moving average price is $11.97. Perma-Pipe International has a fifty-two week low of $6.83 and a fifty-two week high of $17.58.

Perma-Pipe International (NASDAQ:PPIH) last posted its quarterly earnings results on Monday, December 23rd. The industrial products company reported $0.31 earnings per share (EPS) for the quarter. Perma-Pipe International had a net margin of 9.70% and a return on equity of 23.84%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. State Street Corp bought a new position in Perma-Pipe International during the third quarter worth $140,000. Essex Investment Management Co. LLC bought a new stake in shares of Perma-Pipe International in the 3rd quarter worth approximately $190,000. Geode Capital Management LLC boosted its position in Perma-Pipe International by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 82,269 shares of the industrial products company’s stock valued at $1,068,000 after purchasing an additional 7,273 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Perma-Pipe International by 1.8% in the 2nd quarter. Renaissance Technologies LLC now owns 173,412 shares of the industrial products company’s stock worth $1,543,000 after acquiring an additional 3,119 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Perma-Pipe International by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 447,168 shares of the industrial products company’s stock valued at $3,980,000 after purchasing an additional 4,309 shares during the period. Institutional investors and hedge funds own 28.43% of the company’s stock.

Perma-Pipe International Company Profile

Perma-Pipe International Holdings, Inc, together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. It offers insulated and jacketed district heating and cooling piping systems for energy distribution from central energy plants to various locations; and primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products, as well as engages in the coating and insulation of oil and gas gathering and transmission pipelines.