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

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Get Free Report) was the recipient of a large growth in short interest in 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 short-interest ratio is presently 1.3 days. Currently, 0.6% of the company's shares are sold short.

Perma-Pipe International Trading Down 2.1 %

Shares of Perma-Pipe International stock traded down $0.30 on Friday, reaching $13.76. 13,450 shares of the company's stock were exchanged, compared to its average volume of 26,927. The company has a market capitalization of $109.85 million, a P/E ratio of 6.98 and a beta of 0.33. Perma-Pipe International has a 52 week low of $6.83 and a 52 week high of $17.58. The firm's 50-day moving average is $14.42 and its two-hundred day moving average is $14.13. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.64 and a current ratio of 1.94.

Perma-Pipe International (NASDAQ:PPIH - Get Free Report) last posted its quarterly 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 return on equity of 23.41% and a net margin of 10.33%.

Hedge Funds Weigh In On Perma-Pipe International

A number of large investors have recently modified their holdings of PPIH. Barclays PLC bought a new position in shares of Perma-Pipe International in the 4th quarter worth $36,000. IFP Advisors Inc bought a new position in shares of Perma-Pipe International in the 4th quarter worth $48,000. State of Wyoming bought a new position in shares of Perma-Pipe International in the 4th quarter worth $77,000. Lazard Asset Management LLC bought a new position in shares of Perma-Pipe International in the 4th quarter worth $113,000. Finally, State Street Corp bought a new position in shares of Perma-Pipe International in the 3rd quarter worth $140,000. 28.43% of the stock is currently owned by institutional investors.

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About Perma-Pipe International

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.