Short Interest in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) Expands By 16.6%

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 40,100 shares, an increase of 16.6% from the January 15th total of 34,400 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 44,200 shares, the days-to-cover ratio is presently 0.9 days.

Perma-Pipe International Price Performance

NASDAQ:PPIH traded up $0.61 during mid-day trading on Monday, reaching $15.08. The stock had a trading volume of 45,308 shares, compared to its average volume of 26,671. The stock has a 50-day simple moving average of $15.13 and a two-hundred day simple moving average of $13.38. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.64. Perma-Pipe International has a 12 month low of $6.83 and a 12 month high of $17.58. The stock has a market capitalization of $120.34 million, a PE ratio of 7.65 and a beta of 0.32.

Perma-Pipe International (NASDAQ:PPIH) last released its earnings results 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%.

Institutional Investors Weigh In On Perma-Pipe International

A number of hedge funds and other institutional investors have recently bought and sold shares of PPIH. Keeley Teton Advisors LLC grew its stake in Perma-Pipe International by 10.8% during the fourth quarter. Keeley Teton Advisors LLC now owns 12,360 shares of the industrial products company’s stock valued at $185,000 after acquiring 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 valued at $36,000. IFP Advisors Inc bought a new position in shares of Perma-Pipe International during the fourth quarter valued at about $48,000. Geode Capital Management LLC grew its position in Perma-Pipe International by 9.7% during the 3rd 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 last quarter. Finally, Virtu Financial LLC purchased a new position in Perma-Pipe International in the 4th quarter worth approximately $152,000. 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.