Perma-Pipe International Holdings Inc (NASDAQ:PPIH) Sees Significant Decline in Short Interest

Perma-Pipe International Holdings Inc (NASDAQ:PPIH) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 5,900 shares, a decline of 9.2% from the January 15th total of 6,500 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 10,600 shares, the days-to-cover ratio is presently 0.6 days.

Perma-Pipe International stock traded down $0.08 during mid-day trading on Friday, hitting $8.90. The company’s stock had a trading volume of 17,700 shares, compared to its average volume of 17,535. The company has a quick ratio of 1.32, a current ratio of 1.75 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $72.70 million, a P/E ratio of 24.05 and a beta of 0.29. Perma-Pipe International has a twelve month low of $7.87 and a twelve month high of $10.14. The stock’s fifty day moving average price is $9.13 and its two-hundred day moving average price is $8.98.

Perma-Pipe International (NASDAQ:PPIH) last posted its quarterly earnings results on Tuesday, December 10th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter. Perma-Pipe International had a return on equity of 5.74% and a net margin of 2.35%. The business had revenue of $34.46 million during the quarter.

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

A number of institutional investors have recently bought and sold shares of PPIH. UBS Group AG acquired a new position in shares of Perma-Pipe International in the 4th quarter valued at $29,000. Renaissance Technologies LLC lifted its stake in shares of Perma-Pipe International by 1.8% in the 4th quarter. Renaissance Technologies LLC now owns 237,442 shares of the industrial products company’s stock valued at $2,227,000 after purchasing an additional 4,164 shares during the period. Shufro Rose & Co. LLC lifted its stake in shares of Perma-Pipe International by 30.4% in the 4th quarter. Shufro Rose & Co. LLC now owns 45,091 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 10,500 shares during the period. Wedbush Securities Inc. lifted its stake in shares of Perma-Pipe International by 3.4% in the 4th quarter. Wedbush Securities Inc. now owns 432,207 shares of the industrial products company’s stock valued at $4,054,000 after purchasing an additional 14,371 shares during the period. Finally, Boston Private Wealth LLC increased its position in shares of Perma-Pipe International by 28.7% in the 3rd quarter. Boston Private Wealth LLC now owns 27,826 shares of the industrial products company’s stock valued at $268,000 after buying an additional 6,210 shares in the last quarter. 37.64% of the stock is owned by hedge funds and other institutional investors.

About Perma-Pipe International

Perma-Pipe International Holdings, Inc, together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. The company 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/or insulation of oil and gas gathering and transmission pipelines.

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