Perma-Pipe International Holdings Inc (NASDAQ:PPIH) was the target of a large decline in short interest in the month of December. As of December 13th, there was short interest totalling 6,500 shares, a decline of 39.3% from the November 28th total of 10,700 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 19,300 shares, the days-to-cover ratio is presently 0.3 days.
Perma-Pipe International stock traded up $0.03 on Friday, hitting $9.33. 3,490 shares of the stock traded hands, compared to its average volume of 8,619. The company has a current ratio of 1.75, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32. The business’s fifty day simple moving average is $9.09 and its 200 day simple moving average is $8.96. The firm has a market cap of $74.79 million, a P/E ratio of 25.14 and a beta of 0.40. Perma-Pipe International has a 1 year low of $7.87 and a 1 year high of $10.14.
Perma-Pipe International (NASDAQ:PPIH) last released its earnings results on Tuesday, December 10th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $34.46 million for the quarter. Perma-Pipe International had a net margin of 2.35% and a return on equity of 5.74%.
A number of large investors have recently made changes to their positions in PPIH. Wedbush Securities Inc. grew its stake in shares of Perma-Pipe International by 21.8% in the third quarter. Wedbush Securities Inc. now owns 417,836 shares of the industrial products company’s stock worth $4,024,000 after acquiring an additional 74,857 shares during the last quarter. Shufro Rose & Co. LLC boosted its stake in Perma-Pipe International by 30.1% in the 3rd quarter. Shufro Rose & Co. LLC now owns 34,591 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 8,000 shares in the last quarter. Boston Private Wealth LLC boosted its stake in 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 worth $268,000 after purchasing an additional 6,210 shares in the last quarter. Vanguard Group Inc. grew its position in Perma-Pipe International by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 214,024 shares of the industrial products company’s stock valued at $1,948,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Perma-Pipe International by 20.3% during the 2nd quarter. Renaissance Technologies LLC now owns 216,563 shares of the industrial products company’s stock valued at $1,971,000 after purchasing an additional 36,492 shares during the last quarter. Institutional investors and hedge funds own 37.33% of the company’s stock.
Separately, TheStreet cut Perma-Pipe International from a “b-” rating to a “c+” rating in a research note on Thursday, December 19th.
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. 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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