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

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 29,000 shares, an increase of 52.6% from the October 31st total of 19,000 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 39,800 shares, the days-to-cover ratio is presently 0.7 days.

Hedge Funds Weigh In On Perma-Pipe International

A number of institutional investors and hedge funds have recently bought and sold shares of PPIH. Essex Investment Management Co. LLC bought a new stake in Perma-Pipe International in the 3rd quarter valued at $190,000. State Street Corp bought a new stake in Perma-Pipe International in the 3rd quarter valued at $140,000. Geode Capital Management LLC increased its holdings in 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 buying an additional 7,273 shares during the period. Dimensional Fund Advisors LP increased its holdings in Perma-Pipe International by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 447,168 shares of the industrial products company’s stock valued at $3,980,000 after buying an additional 4,309 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Perma-Pipe International by 1.8% in the 2nd quarter. Renaissance Technologies LLC now owns 173,412 shares of the industrial products company’s stock valued at $1,543,000 after buying an additional 3,119 shares during the period. Institutional investors own 28.43% of the company’s stock.

Perma-Pipe International Stock Performance

Shares of NASDAQ:PPIH traded down $0.15 during trading on Friday, reaching $15.34. The stock had a trading volume of 35,680 shares, compared to its average volume of 19,651. Perma-Pipe International has a 52 week low of $6.33 and a 52 week high of $16.32. The firm has a market capitalization of $122.41 million, a price-to-earnings ratio of 8.15 and a beta of 0.27. The company has a quick ratio of 1.50, a current ratio of 1.78 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $13.68 and a two-hundred day simple moving average of $10.88.

Perma-Pipe International (NASDAQ:PPIH) last released its quarterly earnings results on Wednesday, September 11th. The industrial products company reported $0.40 EPS for the quarter. Perma-Pipe International had a net margin of 9.70% and a return on equity of 23.84%. The company had revenue of $37.51 million for the quarter.

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.