Perma-Pipe International (NASDAQ:PPIH) Shares Cross Above 200-Day Moving Average – Here’s Why

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.90 and traded as high as $15.92. Perma-Pipe International shares last traded at $15.25, with a volume of 18,899 shares traded.

Perma-Pipe International Price Performance

The company has a quick ratio of 1.64, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $121.22 million, a PE ratio of 7.71 and a beta of 0.32. The firm’s 50-day moving average is $15.36 and its 200-day moving average is $12.96.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PPIH. Dimensional Fund Advisors LP lifted its holdings in 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 during the period. Renaissance Technologies LLC boosted its holdings in shares of 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 worth $1,543,000 after buying an additional 3,119 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in shares of Perma-Pipe International in the third quarter worth approximately $190,000. State Street Corp purchased a new stake in Perma-Pipe International during the third quarter valued at approximately $140,000. Finally, Geode Capital Management LLC raised its position in Perma-Pipe International by 9.7% in the third quarter. Geode Capital Management LLC now owns 82,269 shares of the industrial products company’s stock worth $1,068,000 after acquiring an additional 7,273 shares during the period. Hedge funds and other 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.