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

by · The Markets Daily

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH – Get Free Report)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.88 and traded as high as $13.09. Perma-Pipe International shares last traded at $12.98, with a volume of 9,266 shares traded.

Perma-Pipe International Stock Down 1.4 %

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 capitalization of $104.15 million, a price-to-earnings ratio of 7.97 and a beta of 0.27. The business’s 50-day moving average is $12.28 and its 200-day moving average is $9.96.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Essex Investment Management Co. LLC acquired a new position in shares of Perma-Pipe International during the 3rd quarter worth about $190,000. Renaissance Technologies LLC raised its holdings in shares of Perma-Pipe International by 1.8% during the second quarter. Renaissance Technologies LLC now owns 173,412 shares of the industrial products company’s stock valued at $1,543,000 after acquiring an additional 3,119 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Perma-Pipe International by 0.8% in the first quarter. Vanguard Group Inc. now owns 319,445 shares of the industrial products company’s stock valued at $2,524,000 after acquiring an additional 2,576 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position 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 valued at $3,980,000 after acquiring an additional 4,309 shares in the last quarter. Hedge funds and other institutional investors own 28.43% of the company’s stock.

Perma-Pipe International Company Profile

(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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