Perma-Pipe International (NASDAQ:PPIH) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) shares 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 trading hands.

Perma-Pipe International Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.50 and a current ratio of 1.78. The stock’s 50-day moving average is $13.10 and its 200 day moving average is $10.50. The firm has a market cap of $112.84 million, a P/E ratio of 7.44 and a beta of 0.27.

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

Hedge Funds Weigh In On Perma-Pipe International

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Perma-Pipe International by 0.8% during the 1st 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 in the last quarter. Renaissance Technologies LLC increased its holdings in 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 worth $1,543,000 after purchasing an additional 3,119 shares in the last quarter. Dimensional Fund Advisors LP increased 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 purchasing an additional 4,309 shares in the last quarter. Geode Capital Management LLC increased its holdings in 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 worth $1,068,000 after purchasing an additional 7,273 shares in the last quarter. Finally, State Street Corp bought a new position in Perma-Pipe International during the 3rd quarter worth about $140,000. Institutional investors own 28.43% of the company’s stock.

Perma-Pipe International Company Profile

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.