Perma-Pipe International (NASDAQ:PPIH) Share Price Passes Above 200-Day Moving Average of $8.19

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.19 and traded as high as $9.12. Perma-Pipe International shares last traded at $8.75, with a volume of 9,424 shares.

Perma-Pipe International Stock Performance

The stock has a 50 day simple moving average of $8.55 and a 200 day simple moving average of $8.19. The company has a current ratio of 1.67, a quick ratio of 1.41 and a debt-to-equity ratio of 0.06. The stock has a market cap of $70.18 million, a P/E ratio of 5.37 and a beta of 0.27.

Perma-Pipe International (NASDAQ:PPIH) last issued its quarterly earnings results on Thursday, June 13th. The industrial products company reported $0.18 earnings per share (EPS) for the quarter. Perma-Pipe International had a return on equity of 21.23% and a net margin of 8.39%. The company had revenue of $34.32 million for the quarter.

Hedge Funds Weigh In On Perma-Pipe International

Several hedge funds and other institutional investors have recently modified their holdings of PPIH. Cannell Capital LLC boosted its holdings in shares of Perma-Pipe International by 10.1% during the 3rd quarter. Cannell Capital LLC now owns 136,492 shares of the industrial products company’s stock valued at $1,115,000 after acquiring an additional 12,500 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Perma-Pipe International by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 319,445 shares of the industrial products company’s stock valued at $2,524,000 after acquiring an additional 2,576 shares in the last quarter. Finally, Arlington Financial Advisors LLC acquired a new position in Perma-Pipe International during the 1st quarter worth about $118,000. 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.