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

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 38,300 shares, an increase of 23.9% from the November 30th total of 30,900 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average trading volume of 46,400 shares, the short-interest ratio is currently 0.8 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of 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 purchasing an additional 4,309 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in 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 valued at $1,543,000 after acquiring an additional 3,119 shares during the last quarter. Geode Capital Management LLC grew its position in Perma-Pipe International by 9.7% during the third quarter. Geode Capital Management LLC now owns 82,269 shares of the industrial products company’s stock valued at $1,068,000 after acquiring an additional 7,273 shares during the period. Essex Investment Management Co. LLC acquired a new stake in Perma-Pipe International during the third quarter worth about $190,000. Finally, State Street Corp purchased a new position in shares of Perma-Pipe International in the 3rd quarter worth about $140,000. 28.43% of the stock is currently owned by hedge funds and other institutional investors.

Perma-Pipe International Price Performance

Shares of PPIH traded down $0.27 during mid-day trading on Tuesday, reaching $14.95. 20,202 shares of the company’s stock were exchanged, compared to its average volume of 22,957. Perma-Pipe International has a 52-week low of $6.83 and a 52-week 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 company has a 50-day simple moving average of $14.94 and a two-hundred day simple moving average of $11.97. The company has a market cap of $119.35 million, a price-to-earnings ratio of 7.87 and a beta of 0.32.

Perma-Pipe International (NASDAQ:PPIH) last posted its quarterly earnings data on Monday, December 23rd. The industrial products company reported $0.31 earnings per share for the quarter. Perma-Pipe International had a net margin of 9.70% and a return on equity of 23.84%.

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.