Perma-Pipe International (NASDAQ:PPIH) Share Price Crosses Above Two Hundred Day Moving Average of $7.82

Shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIHGet Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.82 and traded as high as $8.32. Perma-Pipe International shares last traded at $8.20, with a volume of 2,276 shares changing hands.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Report on PPIH

Perma-Pipe International Trading Up 1.0 %

The company has a quick ratio of 1.37, a current ratio of 1.65 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average price is $8.05 and its two-hundred day moving average price is $7.81. The company has a market capitalization of $66.09 million, a PE ratio of 13.23 and a beta of 0.30.

Perma-Pipe International (NASDAQ:PPIHGet Free Report) last posted its earnings results on Friday, December 8th. The industrial products company reported $0.24 earnings per share for the quarter. The company had revenue of $45.69 million during the quarter. Perma-Pipe International had a net margin of 3.45% and a return on equity of 8.86%.

Hedge Funds Weigh In On Perma-Pipe International

Institutional investors have recently bought and sold shares of the stock. Northern Trust Corp bought a new position in Perma-Pipe International in the second quarter worth about $115,000. UBS Group AG raised its stake in Perma-Pipe International by 67,069.4% in the fourth quarter. UBS Group AG now owns 24,181 shares of the industrial products company’s stock worth $192,000 after buying an additional 24,145 shares in the last quarter. BlackRock Inc. raised its stake in Perma-Pipe International by 59.2% in the second quarter. BlackRock Inc. now owns 30,030 shares of the industrial products company’s stock worth $286,000 after buying an additional 11,163 shares in the last quarter. SVB Wealth LLC raised its stake in Perma-Pipe International by 3.3% in the second quarter. SVB Wealth LLC now owns 39,054 shares of the industrial products company’s stock worth $351,000 after buying an additional 1,239 shares in the last quarter. Finally, Cannell Capital LLC raised its stake in Perma-Pipe International by 64.4% in the first quarter. Cannell Capital LLC now owns 45,044 shares of the industrial products company’s stock worth $425,000 after buying an additional 17,645 shares in the last quarter. 25.44% of the stock is owned by institutional investors.

About Perma-Pipe International

(Get Free Report)

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.

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