Short Interest in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) Drops By 18.7%

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Get Free Report) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 8,700 shares, a decline of 18.7% from the March 31st total of 10,700 shares. Currently, 0.1% of the company's stock are sold short. Based on an average trading volume of 4,900 shares, the days-to-cover ratio is presently 1.8 days.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Perma-Pipe International

An institutional investor recently raised its position in Perma-Pipe International stock. Cannell Capital LLC grew its position in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Free Report) by 10.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 136,492 shares of the industrial products company's stock after purchasing an additional 12,500 shares during the quarter. Cannell Capital LLC owned approximately 1.69% of Perma-Pipe International worth $1,115,000 as of its most recent SEC filing. 28.43% of the stock is currently owned by hedge funds and other institutional investors.

Perma-Pipe International Stock Up 10.9 %

NASDAQ PPIH traded up $0.78 during trading on Friday, reaching $7.95. The company's stock had a trading volume of 54,103 shares, compared to its average volume of 6,289. The company has a current ratio of 1.65, a quick ratio of 1.37 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $64.08 million, a PE ratio of 6.07 and a beta of 0.29. The business has a 50-day moving average price of $7.75 and a 200-day moving average price of $7.58. Perma-Pipe International has a 1-year low of $6.17 and a 1-year high of $11.06.

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.