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

Shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Perma-Pipe International Trading Up 1.2 %

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.64. The stock has a market cap of $117.15 million, a price-to-earnings ratio of 7.45 and a beta of 0.32. The company’s fifty day moving average price is $15.19 and its 200-day moving average price is $12.45.

Perma-Pipe International (NASDAQ:PPIH) last issued its quarterly earnings results on Monday, December 23rd. The industrial products company reported $0.31 earnings per share for the quarter. Perma-Pipe International had a net margin of 10.33% and a return on equity of 23.41%.

Institutional Investors Weigh In On Perma-Pipe International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PPIH. Dimensional Fund Advisors LP boosted its stake in shares of Perma-Pipe International by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 447,168 shares of the industrial products company’s stock worth $3,980,000 after buying an additional 4,309 shares during the last quarter. Renaissance Technologies LLC lifted 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 during the period. Geode Capital Management LLC boosted its holdings in Perma-Pipe International by 9.7% during the third quarter. Geode Capital Management LLC now owns 82,269 shares of the industrial products company’s stock worth $1,068,000 after buying an additional 7,273 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in Perma-Pipe International during the third quarter valued at $190,000. Finally, Ritholtz Wealth Management purchased a new position in Perma-Pipe International in the fourth quarter valued at $173,000. 28.43% of the stock is owned by institutional investors and hedge funds.

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.