Perma-Pipe International (NASDAQ:PPIH) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) crossed 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 changing hands.

Perma-Pipe International Stock Performance

The stock has a market cap of $104.15 million, a price-to-earnings ratio of 7.97 and a beta of 0.27. The firm’s 50-day moving average price is $12.28 and its two-hundred day moving average price is $9.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.50 and a current ratio of 1.78.

Perma-Pipe International (NASDAQ:PPIH) last posted its earnings results on Wednesday, September 11th. The industrial products company reported $0.40 earnings per share for the quarter. The company 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%.

Hedge Funds Weigh In On Perma-Pipe International

Large investors have recently modified their holdings of the business. Essex Investment Management Co. LLC acquired a new stake in shares of Perma-Pipe International during the 3rd quarter worth about $190,000. Renaissance Technologies LLC lifted its position in Perma-Pipe International by 1.8% in the second quarter. Renaissance Technologies LLC now owns 173,412 shares of the industrial products company’s stock valued at $1,543,000 after buying an additional 3,119 shares during the last quarter. Vanguard Group Inc. boosted its stake in 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 buying an additional 2,576 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Perma-Pipe International by 1.0% during 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 during the last quarter. Institutional investors and hedge funds 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.