Perma-Pipe International (NASDAQ:PPIH) Share Price Passes Above 200-Day Moving Average of $8.52

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 $8.52 and traded as high as $10.98. Perma-Pipe International shares last traded at $10.49, with a volume of 22,806 shares.

Perma-Pipe International Stock Performance

The stock has a 50 day moving average price of $8.98 and a two-hundred day moving average price of $8.52. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.41. The company has a market capitalization of $84.11 million, a price-to-earnings ratio of 6.44 and a beta of 0.27.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. 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 valued at $1,543,000 after buying an additional 3,119 shares during the period. Dimensional Fund Advisors LP increased its position 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 worth $3,980,000 after purchasing an additional 4,309 shares during the period. Vanguard Group Inc. increased its position in Perma-Pipe International by 0.8% in the first quarter. Vanguard Group Inc. now owns 319,445 shares of the industrial products company’s stock worth $2,524,000 after purchasing an additional 2,576 shares during the period. Finally, Arlington Financial Advisors LLC bought a new stake in Perma-Pipe International during the 1st quarter worth about $118,000. 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.