Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) saw a significant decrease in short interest in December. As of December 31st, there was short interest totalling 700 shares, a decrease of 75.9% from the December 15th total of 2,900 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 11,900 shares, the short-interest ratio is currently 0.1 days.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Perma-Pipe International by 9.0% in the third quarter. BlackRock Inc. now owns 37,061 shares of the industrial products company’s stock valued at $210,000 after acquiring an additional 3,054 shares in the last quarter. Founders Capital Management acquired a new stake in shares of Perma-Pipe International during the fourth quarter worth about $32,000. Wedbush Securities Inc. boosted its stake in shares of Perma-Pipe International by 2.9% during the third quarter. Wedbush Securities Inc. now owns 283,375 shares of the industrial products company’s stock worth $1,601,000 after buying an additional 8,090 shares during the period. Finally, Shufro Rose & Co. LLC boosted its stake in shares of Perma-Pipe International by 20.8% during the third quarter. Shufro Rose & Co. LLC now owns 73,191 shares of the industrial products company’s stock worth $414,000 after buying an additional 12,600 shares during the period. Institutional investors own 32.08% of the company’s stock.
NASDAQ PPIH opened at $6.14 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.30 and a quick ratio of 1.79. Perma-Pipe International has a 1 year low of $4.51 and a 1 year high of $9.33. The company has a market capitalization of $50.13 million, a PE ratio of -51.17 and a beta of 0.31. The company has a fifty day moving average of $5.95 and a two-hundred day moving average of $5.77.
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 insulation of oil and gas gathering and transmission pipelines.
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