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

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.45 and traded as high as $14.53. Perma-Pipe International shares last traded at $14.14, with a volume of 30,402 shares changing hands.

Perma-Pipe International Price Performance

The business’s 50 day moving average price is $13.03 and its 200-day moving average price is $10.45. The company has a quick ratio of 1.50, a current ratio of 1.78 and a debt-to-equity ratio of 0.13. The company has a market cap of $112.84 million, a PE ratio of 7.44 and a beta of 0.27.

Perma-Pipe International (NASDAQ:PPIH) last released its quarterly earnings results on Wednesday, September 11th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter. The firm had revenue of $37.51 million for the quarter. Perma-Pipe International had a net margin of 9.70% and a return on equity of 23.84%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PPIH. Essex Investment Management Co. LLC acquired a new position in shares of Perma-Pipe International in the 3rd quarter valued at approximately $190,000. State Street Corp bought a new position in Perma-Pipe International during the 3rd quarter valued at $140,000. Dimensional Fund Advisors LP grew its holdings in Perma-Pipe International by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 447,168 shares of the industrial products company’s stock worth $3,980,000 after acquiring an additional 4,309 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Perma-Pipe International by 1.8% in the 2nd quarter. Renaissance Technologies LLC now owns 173,412 shares of the industrial products company’s stock valued at $1,543,000 after purchasing an additional 3,119 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Perma-Pipe International by 0.8% during the first quarter. Vanguard Group Inc. now owns 319,445 shares of the industrial products company’s stock worth $2,524,000 after purchasing an additional 2,576 shares during the last quarter. Hedge funds and other institutional investors 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.