Perma-Pipe International (NASDAQ:PPIH) Share Price Crosses Below 200 Day Moving Average of $7.57

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.57 and traded as low as $6.85. Perma-Pipe International shares last traded at $6.85, with a volume of 13,941 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, TheStreet raised Perma-Pipe International from a “c+” rating to a “b-” rating in a research note on Friday, January 19th.

Perma-Pipe International Price Performance

The company has a quick ratio of 1.37, a current ratio of 1.65 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average is $7.82 and its 200-day moving average is $7.57. The company has a market cap of $55.21 million, a PE ratio of 11.05 and a beta of 0.29.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Perma-Pipe International stock. Cannell Capital LLC boosted its position in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) by 10.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 136,492 shares of the industrial products company’s stock after purchasing an additional 12,500 shares during the quarter. Cannell Capital LLC owned approximately 1.69% of Perma-Pipe International worth $1,115,000 at the end of the most recent 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.