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

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its position in shares of Perma-Pipe International by 1.8% during the 2nd quarter. Renaissance Technologies LLC now owns 173,412 shares of the industrial products company’s stock worth $1,543,000 after buying an additional 3,119 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 worth $3,980,000 after acquiring an additional 4,309 shares during the period. Geode Capital Management LLC lifted its holdings 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 during the period. State Street Corp purchased a new position in Perma-Pipe International in the third quarter worth $140,000. Finally, Essex Investment Management Co. LLC bought a new position in Perma-Pipe International in the 3rd quarter valued at $190,000. 28.43% of the stock is currently owned by hedge funds and other institutional investors.

Perma-Pipe International Stock Down 1.8 %

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

Perma-Pipe International (NASDAQ:PPIH) last issued 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 return on equity of 23.84% and a net margin of 9.70%.

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.