Perma-Pipe International (NASDAQ:PPIH) Stock Passes Above 200 Day Moving Average of $9.01

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.01 and traded as high as $13.25. Perma-Pipe International shares last traded at $13.13, with a volume of 18,160 shares traded.

Perma-Pipe International Price Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.50 and a current ratio of 1.78. The firm has a market cap of $97.74 million, a P/E ratio of 7.48 and a beta of 0.26. The company has a 50-day moving average of $10.17 and a 200 day moving average of $9.04.

Hedge Funds Weigh In On Perma-Pipe International

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Perma-Pipe International by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 319,445 shares of the industrial products company’s stock valued at $2,524,000 after purchasing an additional 2,576 shares during the last quarter. Arlington Financial Advisors LLC bought a new position in Perma-Pipe International in the 1st quarter valued at $118,000. Dimensional Fund Advisors LP raised its position in Perma-Pipe International by 1.0% in the 2nd 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 last quarter. Finally, Renaissance Technologies LLC raised its position in 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 purchasing an additional 3,119 shares during the last quarter. 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.