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

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 44,800 shares, an increase of 17.6% from the February 13th total of 38,100 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 34,600 shares, the short-interest ratio is currently 1.3 days.

Perma-Pipe International Price Performance

NASDAQ:PPIH traded up $0.47 during mid-day trading on Wednesday, reaching $14.12. 21,735 shares of the company were exchanged, compared to its average volume of 26,699. Perma-Pipe International has a 12 month low of $6.83 and a 12 month high of $17.58. The stock has a market cap of $112.72 million, a PE ratio of 7.17 and a beta of 0.33. The company has a quick ratio of 1.64, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average of $14.42 and a 200 day moving average of $14.08.

Perma-Pipe International (NASDAQ:PPIH) last posted its quarterly earnings data on Monday, December 23rd. The industrial products company reported $0.31 earnings per share for the quarter. Perma-Pipe International had a net margin of 10.33% and a return on equity of 23.41%.

Hedge Funds Weigh In On Perma-Pipe International

Large investors have recently made changes to their positions in the company. Keeley Teton Advisors LLC raised its holdings in Perma-Pipe International by 10.8% during the 4th quarter. Keeley Teton Advisors LLC now owns 12,360 shares of the industrial products company’s stock worth $185,000 after purchasing an additional 1,200 shares during the last quarter. Barclays PLC acquired a new stake in shares of Perma-Pipe International during the 4th quarter worth approximately $36,000. IFP Advisors Inc bought a new stake in shares of Perma-Pipe International during the fourth quarter worth approximately $48,000. State of Wyoming acquired a new position in Perma-Pipe International in the fourth quarter valued at approximately $77,000. Finally, Geode Capital Management LLC boosted its stake in Perma-Pipe International by 9.7% in the third quarter. Geode Capital Management LLC now owns 82,269 shares of the industrial products company’s stock valued at $1,068,000 after acquiring an additional 7,273 shares during the last quarter. 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.