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

Shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.17 and traded as high as $15.42. Perma-Pipe International shares last traded at $14.71, with a volume of 81,450 shares traded.

Perma-Pipe International Stock Up 1.8 %

The stock has a 50 day moving average of $12.51 and a 200 day moving average of $10.17. The firm has a market capitalization of $117.39 million, a price-to-earnings ratio of 7.74 and a beta of 0.27. The company has a quick ratio of 1.50, a current ratio of 1.78 and a debt-to-equity ratio of 0.13.

Perma-Pipe International (NASDAQ:PPIH) last posted its quarterly earnings results on Wednesday, September 11th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter. The business had revenue of $37.51 million for the quarter. Perma-Pipe International had a return on equity of 23.84% and a net margin of 9.70%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Essex Investment Management Co. LLC bought a new position in Perma-Pipe International in the third quarter worth about $190,000. Renaissance Technologies LLC lifted its holdings 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 purchasing an additional 3,119 shares during the last quarter. Vanguard Group Inc. boosted its position in 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 purchasing an additional 2,576 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Perma-Pipe International by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 447,168 shares of the industrial products company’s stock worth $3,980,000 after buying an additional 4,309 shares during the last quarter. 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.