Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) Short Interest Up 23.9% in December

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Get Free Report) saw a large growth in short interest in December. As of December 15th, there was short interest totalling 38,300 shares, a growth of 23.9% from the November 30th total of 30,900 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 46,400 shares, the short-interest ratio is presently 0.8 days.

Perma-Pipe International Price Performance

Perma-Pipe International stock traded down $0.27 during midday trading on Tuesday, hitting $14.95. The company's stock had a trading volume of 20,202 shares, compared to its average volume of 22,957. Perma-Pipe International has a 12 month low of $6.83 and a 12 month high of $17.58. 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's 50-day moving average price is $14.98 and its 200-day moving average price is $12.01. The company has a market capitalization of $119.35 million, a PE ratio of 7.87 and a beta of 0.32.

Perma-Pipe International (NASDAQ:PPIH - Get Free Report) last released its 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 9.70% and a return on equity of 23.84%.

Hedge Funds Weigh In On Perma-Pipe International

A number of hedge funds have recently modified their holdings of PPIH. Dimensional Fund Advisors LP increased its stake 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 worth $3,980,000 after purchasing an additional 4,309 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Perma-Pipe International by 1.8% in the second quarter. Renaissance Technologies LLC now owns 173,412 shares of the industrial products company's stock worth $1,543,000 after acquiring an additional 3,119 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Perma-Pipe International during the third quarter valued at approximately $190,000. State Street Corp purchased a new stake in shares of Perma-Pipe International in the 3rd quarter valued at approximately $140,000. Finally, Geode Capital Management LLC boosted its stake 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 worth $1,068,000 after purchasing an additional 7,273 shares during the period. 28.43% of the stock is currently 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.