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

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-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 traded.

Perma-Pipe International Stock Up 1.2 %

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.64 and a current ratio of 1.94. The company has a market cap of $117.15 million, a P/E ratio of 7.45 and a beta of 0.32. The stock has a 50 day moving average price of $15.19 and a 200 day moving average price of $12.48.

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

Hedge Funds Weigh In On Perma-Pipe International

A number of hedge funds have recently modified their holdings of PPIH. State Street Corp acquired a new position in shares of Perma-Pipe International in the 3rd quarter worth $140,000. Ritholtz Wealth Management purchased a new position in shares of Perma-Pipe International during the fourth quarter valued at $173,000. Essex Investment Management Co. LLC purchased a new position in shares of Perma-Pipe International during the third quarter valued at $190,000. Geode Capital Management LLC grew its holdings in shares of 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 valued at $1,068,000 after buying an additional 7,273 shares in the last quarter. Finally, Renaissance Technologies LLC grew 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 buying an additional 3,119 shares in the last quarter. 28.43% of the stock is currently 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.