Short Interest in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) Declines By 37.5%

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totalling 20,000 shares, a decrease of 37.5% from the September 15th total of 32,000 shares. Based on an average daily volume of 27,600 shares, the short-interest ratio is presently 0.7 days. Approximately 0.3% of the company’s stock are short sold.

Perma-Pipe International Stock Up 0.5 %

Shares of NASDAQ PPIH opened at $13.44 on Friday. Perma-Pipe International has a 12-month low of $6.17 and a 12-month high of $14.48. The company has a market cap of $107.25 million, a P/E ratio of 7.07 and a beta of 0.27. The company has a current ratio of 1.78, a quick ratio of 1.50 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average price of $10.94 and a 200 day moving average price of $9.42.

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

Institutional Trading of Perma-Pipe International

Several large investors have recently modified their holdings of PPIH. Arlington Financial Advisors LLC acquired a new stake in shares of Perma-Pipe International during the first quarter valued at about $118,000. Essex Investment Management Co. LLC acquired a new stake in shares of Perma-Pipe International during the third quarter valued at about $190,000. Renaissance Technologies LLC grew its stake in shares of Perma-Pipe International by 1.8% during 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 in the last quarter. Vanguard Group Inc. grew its stake in shares of Perma-Pipe International by 0.8% during the first quarter. Vanguard Group Inc. now owns 319,445 shares of the industrial products company’s stock valued at $2,524,000 after acquiring an additional 2,576 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Perma-Pipe International by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 447,168 shares of the industrial products company’s stock valued at $3,980,000 after acquiring an additional 4,309 shares in the last quarter. 28.43% of the stock is currently owned by institutional investors and hedge funds.

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.