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

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Get Free Report) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 54,500 shares, a growth of 25.6% from the April 30th total of 43,400 shares. Based on an average trading volume of 30,000 shares, the short-interest ratio is presently 1.8 days. Approximately 0.8% of the shares of the company are short sold.

Institutional Investors Weigh In On Perma-Pipe International

Several hedge funds and other institutional investors have recently modified their holdings of PPIH. Raymond James Financial Inc. increased its position in shares of Perma-Pipe International by 1,960.8% during the first quarter. Raymond James Financial Inc. now owns 657,501 shares of the industrial products company's stock valued at $8,173,000 after buying an additional 625,596 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Perma-Pipe International during the fourth quarter worth about $1,093,000. EAM Investors LLC bought a new position in Perma-Pipe International in the 4th quarter worth about $708,000. Ellsworth Advisors LLC purchased a new stake in shares of Perma-Pipe International in the 1st quarter valued at about $581,000. Finally, Marshall Wace LLP purchased a new stake in shares of Perma-Pipe International in the 4th quarter valued at about $488,000. 28.43% of the stock is currently owned by institutional investors.

Perma-Pipe International Stock Performance

Perma-Pipe International stock traded up $0.37 during midday trading on Wednesday, reaching $14.60. The stock had a trading volume of 19,184 shares, compared to its average volume of 30,759. The firm's 50-day moving average price is $12.45 and its 200 day moving average price is $13.98. Perma-Pipe International has a 12 month low of $7.72 and a 12 month high of $17.58. The firm has a market capitalization of $116.55 million, a PE ratio of 7.41 and a beta of 0.22. The company has a quick ratio of 1.64, a current ratio of 1.94 and a debt-to-equity ratio of 0.12.

Perma-Pipe International (NASDAQ:PPIH - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.27 earnings per share for the quarter. Perma-Pipe International had a return on equity of 23.41% and a net margin of 10.33%. The firm had revenue of $44.99 million for the quarter.

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.