Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) Short Interest Update

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 13,400 shares, a growth of 857.1% from the February 29th total of 1,400 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,700 shares, the short-interest ratio is currently 2.4 days.

Perma-Pipe International Stock Down 1.9 %

Shares of PPIH traded down $0.15 during mid-day trading on Thursday, reaching $7.90. The company had a trading volume of 1,044 shares, compared to its average volume of 5,469. Perma-Pipe International has a 52 week low of $6.17 and a 52 week high of $11.19. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.37 and a current ratio of 1.65. The company has a market capitalization of $63.67 million, a price-to-earnings ratio of 12.95 and a beta of 0.28. The firm has a 50-day moving average price of $8.03 and a 200 day moving average price of $7.64.

Wall Street Analyst Weigh In

Separately, TheStreet upgraded shares of Perma-Pipe International from a “c+” rating to a “b-” rating in a research report on Friday, January 19th.

Hedge Funds Weigh In On Perma-Pipe International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp bought a new position in Perma-Pipe International during the second quarter valued at approximately $115,000. UBS Group AG lifted its stake in shares of Perma-Pipe International by 67,069.4% in the 4th quarter. UBS Group AG now owns 24,181 shares of the industrial products company’s stock worth $192,000 after purchasing an additional 24,145 shares during the period. BlackRock Inc. boosted its holdings in shares of Perma-Pipe International by 59.2% in the second quarter. BlackRock Inc. now owns 30,030 shares of the industrial products company’s stock worth $286,000 after buying an additional 11,163 shares during the last quarter. SVB Wealth LLC grew its position in Perma-Pipe International by 3.3% during the second quarter. SVB Wealth LLC now owns 39,054 shares of the industrial products company’s stock valued at $351,000 after buying an additional 1,239 shares during the period. Finally, Cannell Capital LLC increased its holdings in Perma-Pipe International by 64.4% during the first quarter. Cannell Capital LLC now owns 45,044 shares of the industrial products company’s stock valued at $425,000 after buying an additional 17,645 shares during the last quarter. 28.43% of the stock is owned by institutional investors.

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.