Perma-Pipe International (NASDAQ:PPIH) Shares Cross Above 200 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 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 trading hands.

Perma-Pipe International Price Performance

The stock has a 50-day moving average price of $15.36 and a two-hundred day moving average price of $12.96. The company has a current ratio of 1.94, a quick ratio of 1.64 and a debt-to-equity ratio of 0.12. The stock has a market cap of $121.22 million, a price-to-earnings ratio of 7.71 and a beta of 0.32.

Perma-Pipe International (NASDAQ:PPIH) last posted its quarterly 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 net margin of 10.33% and a return on equity of 23.41%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PPIH. Renaissance Technologies LLC increased its stake in shares of Perma-Pipe International by 1.8% in the 2nd quarter. Renaissance Technologies LLC now owns 173,412 shares of the industrial products company’s stock worth $1,543,000 after acquiring an additional 3,119 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings 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 purchasing an additional 4,309 shares during the period. Geode Capital Management LLC increased its position in 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 worth $1,068,000 after purchasing an additional 7,273 shares during the last quarter. State Street Corp purchased a new position in Perma-Pipe International during the third quarter worth about $140,000. Finally, Ritholtz Wealth Management acquired a new position in Perma-Pipe International in the 4th quarter valued at about $173,000. 28.43% of the stock is 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.