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

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 101,192 shares, a decline of 31.4% from the December 15th total of 147,599 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 107,096 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily trading volume, of 107,096 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.3% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings lowered Perma-Pipe International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Loop Capital set a $36.00 price target on Perma-Pipe International in a report on Tuesday, December 16th. Finally, Wall Street Zen raised Perma-Pipe International from a “hold” rating to a “strong-buy” rating in a research note on Saturday, December 13th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Perma-Pipe International has an average rating of “Hold” and a consensus target price of $36.00.

Institutional Trading of Perma-Pipe International

Several large investors have recently added to or reduced their stakes in PPIH. Bank of America Corp DE increased its stake in shares of 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 worth $27,000 after purchasing an additional 1,125 shares during the last quarter. U S Global Investors Inc. boosted its holdings in Perma-Pipe International by 400.0% in the third quarter. U S Global Investors Inc. now owns 5,000 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 4,000 shares in the last quarter. IMS Capital Management acquired a new position in Perma-Pipe International during the second quarter worth $201,000. Qube Research & Technologies Ltd bought a new position in Perma-Pipe International during the third quarter valued at about $208,000. Finally, Corsair Capital Management L.P. acquired a new stake in shares of Perma-Pipe International in the second quarter worth about $214,000. 28.43% of the stock is owned by institutional investors.

Perma-Pipe International Stock Up 2.1%

NASDAQ PPIH traded up $0.68 on Friday, reaching $32.50. The stock had a trading volume of 162,256 shares, compared to its average volume of 96,083. The company has a current ratio of 1.76, a quick ratio of 1.53 and a debt-to-equity ratio of 0.15. Perma-Pipe International has a 1 year low of $8.81 and a 1 year high of $36.48. The business has a 50 day moving average price of $29.17 and a 200 day moving average price of $27.15. The company has a market capitalization of $262.93 million, a price-to-earnings ratio of 19.12 and a beta of 0.52.

Perma-Pipe International (NASDAQ:PPIH) last posted its quarterly earnings results on Friday, December 12th. The industrial products company reported $0.77 earnings per share for the quarter. The company had revenue of $61.15 million during the quarter. Perma-Pipe International had a return on equity of 18.12% and a net margin of 6.91%.

Perma-Pipe International Company Profile

Perma-Pipe International Holdings Ltd. is a publicly traded company on the NASDAQ under the symbol PPIH that specializes in the design, manufacture and installation of prefabricated piping systems. Its core business revolves around factory-assembled thermal insulation and corrosion protection solutions, including pre-insulated pipe, heat tracing, field-applied jackets and specialty spool pieces. These engineered systems are custom-built to industry specifications and are used to maintain temperatures, control heat loss and extend the life of critical piping infrastructure.

The company’s products and services serve a diverse range of end markets, with primary focus on oil and gas production, petrochemical processing, power generation, district energy, and industrial facilities.