Short Interest in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) Increases By 17.6%

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) was the target of a significant 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. Based on an average daily volume of 34,600 shares, the short-interest ratio is currently 1.3 days. Currently, 0.6% of the company’s stock are sold short.

Perma-Pipe International Stock Down 0.9 %

Shares of Perma-Pipe International stock traded down $0.13 during trading on Thursday, reaching $13.99. The company’s stock had a trading volume of 12,775 shares, compared to its average volume of 26,716. Perma-Pipe International has a 1-year low of $6.83 and a 1-year high of $17.58. The company has a 50-day simple moving average of $14.43 and a two-hundred day simple moving average of $14.08. 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 market cap of $111.68 million, a price-to-earnings ratio of 7.10 and a beta of 0.33.

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

Institutional Trading of Perma-Pipe International

Institutional investors have recently bought and sold shares of the stock. Keeley Teton Advisors LLC raised its holdings in shares of 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 buying an additional 1,200 shares during the last quarter. Barclays PLC acquired a new position in shares of Perma-Pipe International in the 4th quarter valued at $36,000. IFP Advisors Inc purchased a new position in Perma-Pipe International in the 4th quarter worth $48,000. State of Wyoming acquired a new stake in Perma-Pipe International during the 4th quarter worth about $77,000. Finally, Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 7,273 shares during the period. 28.43% of the stock is currently owned by institutional investors and hedge funds.

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.