Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) Sees Large Growth in Short Interest

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) was the target of a significant growth in short interest in January. As of January 31st, there was short interest totalling 40,100 shares, a growth of 16.6% from the January 15th total of 34,400 shares. Based on an average daily trading 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 short sold.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. State Street Corp acquired a new position in shares of Perma-Pipe International in the 3rd quarter valued at $140,000. Geode Capital Management LLC boosted its position in shares of Perma-Pipe International by 9.7% in the 3rd 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. Ritholtz Wealth Management acquired a new position in shares of Perma-Pipe International in the 4th quarter valued at $173,000. EAM Investors LLC acquired a new position in shares of Perma-Pipe International in the 4th quarter valued at $708,000. Finally, Keeley Teton Advisors LLC lifted its stake in Perma-Pipe International by 10.8% in the 4th quarter. Keeley Teton Advisors LLC now owns 12,360 shares of the industrial products company’s stock worth $185,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors own 28.43% of the company’s stock.

Perma-Pipe International Price Performance

PPIH stock traded up $0.61 during trading hours on Friday, hitting $15.08. 45,308 shares of the stock traded hands, compared to its average volume of 26,671. The stock has a 50-day simple moving average of $15.13 and a 200 day simple moving average of $13.38. Perma-Pipe International has a one year low of $6.83 and a one year high of $17.58. The company has a market cap of $120.34 million, a P/E 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 announced 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 return on equity of 23.41% and a net margin of 10.33%.

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.