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 during 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 company are short sold.

Perma-Pipe International Stock Performance

PPIH stock traded up $0.61 on Friday, hitting $15.08. The company’s stock had a trading volume of 45,308 shares, compared to its average volume of 26,671. The firm has a 50 day moving average of $15.13 and a two-hundred day moving average of $13.38. Perma-Pipe International has a 1 year low of $6.83 and a 1 year high of $17.58. The stock has a market cap of $120.34 million, a price-to-earnings ratio of 7.65 and a beta of 0.32. The company has a current ratio of 1.94, a quick ratio of 1.64 and a debt-to-equity ratio of 0.12.

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

Hedge Funds Weigh In On Perma-Pipe International

Institutional investors have recently bought and sold shares of the company. Barclays PLC acquired a new position in Perma-Pipe International in the 4th quarter valued at $36,000. IFP Advisors Inc acquired a new position in Perma-Pipe International in the 4th quarter valued at $48,000. Virtu Financial LLC acquired a new position in Perma-Pipe International in the 4th quarter valued at $152,000. State Street Corp acquired a new position in Perma-Pipe International in the 3rd quarter valued at $140,000. Finally, Ritholtz Wealth Management acquired a new position in Perma-Pipe International in the 4th quarter valued at $173,000. 28.43% of the stock is 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.