Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) Short Interest Down 16.2% in September

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) saw a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 32,000 shares, a decline of 16.2% from the August 31st total of 38,200 shares. Based on an average daily volume of 22,200 shares, the short-interest ratio is currently 1.4 days. Currently, 0.5% of the shares of the company are sold short.

Perma-Pipe International Stock Performance

Shares of PPIH traded down $0.54 during mid-day trading on Friday, reaching $11.65. The company had a trading volume of 21,999 shares, compared to its average volume of 14,615. Perma-Pipe International has a 52-week low of $6.17 and a 52-week high of $13.44. The stock has a market capitalization of $93.41 million, a P/E ratio of 7.15 and a beta of 0.26. The stock has a 50 day moving average of $10.26 and a two-hundred day moving average of $9.08. The company has a quick ratio of 1.50, a current ratio of 1.78 and a debt-to-equity ratio of 0.13.

Hedge Funds Weigh In On Perma-Pipe International

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Perma-Pipe International by 0.8% in the first quarter. Vanguard Group Inc. now owns 319,445 shares of the industrial products company’s stock valued at $2,524,000 after buying an additional 2,576 shares in the last quarter. Arlington Financial Advisors LLC acquired a new position in Perma-Pipe International during the first quarter worth $118,000. Dimensional Fund Advisors LP lifted its stake in Perma-Pipe International by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 447,168 shares of the industrial products company’s stock valued at $3,980,000 after buying an additional 4,309 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Perma-Pipe International by 1.8% in the second quarter. Renaissance Technologies LLC now owns 173,412 shares of the industrial products company’s stock valued at $1,543,000 after acquiring an additional 3,119 shares in the last quarter. 28.43% of the stock is owned by hedge funds and other institutional investors.

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.