Short Interest in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) Increases By 17.6%

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 44,800 shares, a growth of 17.6% from the February 13th total of 38,100 shares. Based on an average daily trading volume, of 34,600 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.6% of the company’s stock are short sold.

Perma-Pipe International Stock Down 0.9 %

Shares of PPIH traded down $0.13 during midday trading on Thursday, reaching $13.99. 12,775 shares of the stock were exchanged, compared to its average volume of 26,716. The company has a market capitalization of $111.68 million, a P/E ratio of 7.10 and a beta of 0.33. 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 has a 52 week low of $6.83 and a 52 week high of $17.58. The company’s 50 day moving average is $14.43 and its two-hundred day moving average is $14.08.

Perma-Pipe International (NASDAQ:PPIH) last issued its earnings results on Monday, December 23rd. The industrial products company reported $0.31 earnings per share (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

A number of large investors have recently bought and sold shares of the business. Barclays PLC bought a new stake in Perma-Pipe International during the 4th quarter valued at $36,000. IFP Advisors Inc bought a new stake in Perma-Pipe International during the fourth quarter valued at about $48,000. State of Wyoming bought a new position in Perma-Pipe International in the fourth quarter worth about $77,000. Lazard Asset Management LLC purchased a new stake in shares of Perma-Pipe International during the fourth quarter valued at about $113,000. Finally, State Street Corp bought a new stake in shares of Perma-Pipe International in the 3rd quarter valued at about $140,000. 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.