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 company’s stock are short sold. Based on an average daily trading volume, of 34,600 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PPIH. Keeley Teton Advisors LLC raised its position in Perma-Pipe International by 10.8% in the fourth 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 in the last quarter. Barclays PLC bought a new position in shares of Perma-Pipe International during the 4th quarter worth approximately $36,000. IFP Advisors Inc acquired a new stake in Perma-Pipe International in the 4th quarter valued at $48,000. State of Wyoming bought a new stake in Perma-Pipe International in the fourth quarter valued at $77,000. Finally, Geode Capital Management LLC raised its stake in Perma-Pipe International by 9.7% during the third quarter. Geode Capital Management LLC now owns 82,269 shares of the industrial products company’s stock worth $1,068,000 after acquiring an additional 7,273 shares in the last quarter. 28.43% of the stock is currently owned by institutional investors and hedge funds.

Perma-Pipe International Stock Performance

NASDAQ PPIH traded up $0.47 during trading on Wednesday, hitting $14.12. The company’s stock had a trading volume of 21,735 shares, compared to its average volume of 26,699. The firm has a 50 day moving average price of $14.42 and a 200 day moving average price of $14.08. The firm has a market cap of $112.72 million, a P/E 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. Perma-Pipe International has a 52 week low of $6.83 and a 52 week high of $17.58.

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

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.