Perma-Pipe International (NASDAQ:PPIH) Stock Crosses Above 200-Day Moving Average – What’s Next?

Shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.45 and traded as high as $14.53. Perma-Pipe International shares last traded at $14.14, with a volume of 30,402 shares.

Perma-Pipe International Stock Performance

The firm has a market cap of $112.84 million, a PE ratio of 7.44 and a beta of 0.27. The stock has a 50-day moving average price of $13.03 and a 200 day moving average price of $10.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.78 and a quick ratio of 1.50.

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

Hedge Funds Weigh In On Perma-Pipe International

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp purchased a new stake in shares of Perma-Pipe International during the 3rd quarter valued at $140,000. Essex Investment Management Co. LLC acquired a new stake in Perma-Pipe International during the third quarter worth about $190,000. Renaissance Technologies LLC raised 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 period. Vanguard Group Inc. raised its holdings 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 valued at $2,524,000 after buying 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 second 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 period. Institutional investors and hedge funds 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.