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

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Get Free Report) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 10,700 shares, a decline of 20.1% from the March 15th total of 13,400 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 4,800 shares, the short-interest ratio is currently 2.2 days.

Analyst Ratings Changes

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

Perma-Pipe International Price Performance

Shares of Perma-Pipe International stock traded up $0.19 during trading on Friday, hitting $7.61. 8,463 shares of the company's stock traded hands, compared to its average volume of 4,789. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.65 and a quick ratio of 1.37. The firm's fifty day moving average price is $7.94 and its 200 day moving average price is $7.60. Perma-Pipe International has a twelve month low of $6.17 and a twelve month high of $11.19. The company has a market cap of $61.34 million, a PE ratio of 12.27 and a beta of 0.29.

Hedge Funds Weigh In On Perma-Pipe International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cannell Capital LLC boosted its position in Perma-Pipe International by 10.1% in the third quarter. Cannell Capital LLC now owns 136,492 shares of the industrial products company's stock valued at $1,115,000 after buying an additional 12,500 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Perma-Pipe International by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 477,717 shares of the industrial products company's stock valued at $4,505,000 after purchasing an additional 4,568 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Perma-Pipe International by 3.5% during the third quarter. Vanguard Group Inc. now owns 316,254 shares of the industrial products company's stock valued at $2,584,000 after purchasing an additional 10,724 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Perma-Pipe International by 1.3% during the second quarter. Renaissance Technologies LLC now owns 225,693 shares of the industrial products company's stock valued at $2,031,000 after purchasing an additional 2,901 shares during the last quarter. Finally, Baird Financial Group Inc. grew its stake in shares of Perma-Pipe International by 149.4% during the first quarter. Baird Financial Group Inc. now owns 148,118 shares of the industrial products company's stock valued at $1,397,000 after purchasing an additional 88,728 shares during the last quarter. 28.43% of the stock is currently owned by institutional investors and hedge funds.

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.