Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) Short Interest Update

Key Points

• Perma-Pipe International Holdings, Inc. saw a significant increase in short interest, growing by 93.8% from 94,600 to 183,300 shares in September.
• Analysts have downgraded the company from a "strong-buy" to a "hold" rating, with a consensus rating of "Hold".
• The company's recent quarterly earnings report showed earnings per share of $0.10 and revenue of $47.90 million.

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Get Free Report) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totaling 183,300 shares, an increase of 93.8% from the August 31st total of 94,600 shares. Based on an average trading volume of 123,000 shares, the short-interest ratio is presently 1.5 days. Approximately 2.6% of the shares of the stock are short sold. Approximately 2.6% of the shares of the stock are short sold. Based on an average trading volume of 123,000 shares, the short-interest ratio is presently 1.5 days.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wall Street Zen lowered Perma-Pipe International from a "strong-buy" rating to a "hold" rating in a research report on Saturday, September 20th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Perma-Pipe International in a research report on Saturday, September 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Perma-Pipe International currently has a consensus rating of "Hold".

Perma-Pipe International Stock Performance

NASDAQ PPIH opened at $22.44 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. The firm has a market cap of $181.54 million, a price-to-earnings ratio of 18.10 and a beta of 0.50. Perma-Pipe International has a twelve month low of $8.81 and a twelve month high of $33.09. The business has a 50-day moving average price of $26.55 and a 200-day moving average price of $19.76.

Perma-Pipe International (NASDAQ:PPIH - Get Free Report) last issued its quarterly earnings data on Monday, September 15th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter. Perma-Pipe International had a return on equity of 13.92% and a net margin of 5.55%.The business had revenue of $47.90 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PPIH. Bank of America Corp DE boosted its position in Perma-Pipe International by 1,730.8% during the 2nd quarter. Bank of America Corp DE now owns 1,190 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 1,125 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Perma-Pipe International during the 4th quarter valued at about $178,000. IMS Capital Management purchased a new position in shares of Perma-Pipe International during the 2nd quarter valued at about $201,000. Corsair Capital Management L.P. purchased a new position in shares of Perma-Pipe International in the 2nd quarter valued at about $214,000. Finally, Empowered Funds LLC increased its stake in Perma-Pipe International by 8.8% during the 1st quarter. Empowered Funds LLC now owns 20,101 shares of the industrial products company's stock worth $250,000 after buying an additional 1,626 shares in the last quarter. Institutional investors own 28.43% of the company's stock.

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.

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