Short Interest in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) Decreases By 18.7%

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 8,700 shares, a drop of 18.7% from the March 31st total of 10,700 shares. Based on an average trading volume of 4,900 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.1% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, TheStreet upgraded Perma-Pipe International from a “c+” rating to a “b-” rating in a report on Friday, January 19th.

Perma-Pipe International Stock Up 10.9 %

Shares of Perma-Pipe International stock traded up $0.78 during trading on Friday, hitting $7.95. 54,103 shares of the stock traded hands, compared to its average volume of 6,289. The stock has a market cap of $64.08 million, a P/E ratio of 6.07 and a beta of 0.29. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.37 and a current ratio of 1.65. Perma-Pipe International has a twelve month low of $6.17 and a twelve month high of $11.06. The company has a fifty day moving average price of $7.75 and a two-hundred day moving average price of $7.57.

Institutional Investors Weigh In On Perma-Pipe International

A hedge fund recently raised its stake in Perma-Pipe International stock. Cannell Capital LLC increased its stake in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) by 10.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 136,492 shares of the industrial products company’s stock after purchasing an additional 12,500 shares during the quarter. Cannell Capital LLC owned approximately 1.69% of Perma-Pipe International worth $1,115,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.