Perma-Pipe International (NASDAQ:PPIH) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIHGet Free Report)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.45 and traded as high as $14.68. Perma-Pipe International shares last traded at $14.68, with a volume of 28,374 shares traded.

Perma-Pipe International Trading Up 1.2 %

The business has a fifty day moving average price of $15.19 and a 200 day moving average price of $12.48. The company has a market capitalization of $117.15 million, a PE ratio of 7.45 and a beta of 0.32. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.64 and a current ratio of 1.94.

Perma-Pipe International (NASDAQ:PPIHGet Free Report) last released its quarterly earnings data on Monday, December 23rd. The industrial products company reported $0.31 EPS for the quarter. Perma-Pipe International had a return on equity of 23.41% and a net margin of 10.33%.

Institutional Investors Weigh In On Perma-Pipe International

Hedge funds have recently modified their holdings of the stock. State Street Corp purchased a new stake in shares of Perma-Pipe International during the 3rd quarter valued at about $140,000. Ritholtz Wealth Management purchased a new stake in shares of Perma-Pipe International during the 4th quarter valued at about $173,000. Essex Investment Management Co. LLC purchased a new stake in shares of Perma-Pipe International during the 3rd quarter valued at about $190,000. Geode Capital Management LLC raised its holdings in shares of Perma-Pipe International by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 82,269 shares of the industrial products company’s stock valued at $1,068,000 after buying an additional 7,273 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Perma-Pipe International by 1.8% during the 2nd quarter. Renaissance Technologies LLC now owns 173,412 shares of the industrial products company’s stock valued at $1,543,000 after buying an additional 3,119 shares during the period. 28.43% of the stock is currently owned by hedge funds and other 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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