Short Interest in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) Declines By 37.5%

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 20,000 shares, a drop of 37.5% from the September 15th total of 32,000 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily volume of 27,600 shares, the short-interest ratio is presently 0.7 days.

Perma-Pipe International Stock Performance

Shares of NASDAQ PPIH opened at $13.44 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.78 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $10.94 and its two-hundred day moving average price is $9.42. Perma-Pipe International has a 52-week low of $6.17 and a 52-week high of $14.48. The stock has a market capitalization of $107.25 million, a P/E ratio of 7.07 and a beta of 0.27.

Perma-Pipe International (NASDAQ:PPIH) last issued its earnings results on Wednesday, September 11th. The industrial products company reported $0.40 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%. The firm had revenue of $37.51 million for the quarter.

Institutional Investors Weigh In On Perma-Pipe International

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Perma-Pipe International by 0.8% during the first quarter. Vanguard Group Inc. now owns 319,445 shares of the industrial products company’s stock valued at $2,524,000 after buying an additional 2,576 shares during the last quarter. Arlington Financial Advisors LLC bought a new stake in shares of Perma-Pipe International during the first quarter valued at approximately $118,000. Dimensional Fund Advisors LP raised its holdings in shares of Perma-Pipe International by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 447,168 shares of the industrial products company’s stock valued at $3,980,000 after buying an additional 4,309 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Perma-Pipe International by 1.8% during the second quarter. Renaissance Technologies LLC now owns 173,412 shares of the industrial products company’s stock valued at $1,543,000 after buying an additional 3,119 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Perma-Pipe International during the third quarter valued at approximately $190,000. Institutional investors 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.