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

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) was the target 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. Based on an average daily volume of 44,200 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.6% of the shares of the stock are sold short.

Institutional Investors Weigh In On Perma-Pipe International

Large investors have recently added to or reduced their stakes in the business. Barclays PLC acquired a new stake in Perma-Pipe International in the 4th quarter valued at about $36,000. IFP Advisors Inc acquired a new stake in Perma-Pipe International in the 4th quarter valued at about $48,000. Virtu Financial LLC purchased a new position in Perma-Pipe International in the 4th quarter valued at about $152,000. State Street Corp purchased a new position in Perma-Pipe International in the 3rd quarter valued at about $140,000. Finally, Ritholtz Wealth Management purchased a new position in Perma-Pipe International in the 4th quarter valued at about $173,000. 28.43% of the stock is owned by institutional investors and hedge funds.

Perma-Pipe International Price Performance

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

Perma-Pipe International (NASDAQ:PPIH) last issued 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%.

About Perma-Pipe International

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.