Perma-Pipe International (NASDAQ:PPIH) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.90 and traded as high as $15.92. Perma-Pipe International shares last traded at $15.25, with a volume of 18,899 shares trading hands.

Perma-Pipe International Stock Down 0.5 %

The company has a current ratio of 1.94, a quick ratio of 1.64 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $15.37 and a two-hundred day simple moving average of $12.90. The company has a market cap of $121.70 million, a PE ratio of 7.74 and a beta of 0.32.

Perma-Pipe International (NASDAQ:PPIH) last posted its quarterly earnings results on Monday, December 23rd. The industrial products company reported $0.31 earnings per share for the quarter. Perma-Pipe International had a net margin of 10.33% and a return on equity of 23.41%.

Institutional Investors Weigh In On Perma-Pipe International

A number of large investors have recently made changes to their positions in PPIH. Empowered Funds LLC acquired a new position in Perma-Pipe International during the fourth quarter worth $276,000. Essex Investment Management Co. LLC acquired a new position in shares of Perma-Pipe International during the 3rd quarter valued at about $190,000. Ritholtz Wealth Management purchased a new stake in shares of Perma-Pipe International in the fourth quarter valued at about $173,000. State Street Corp acquired a new stake in Perma-Pipe International during the third quarter worth about $140,000. Finally, Geode Capital Management LLC raised its stake in Perma-Pipe International by 9.7% during the third quarter. Geode Capital Management LLC now owns 82,269 shares of the industrial products company’s stock worth $1,068,000 after purchasing an additional 7,273 shares during the period. 28.43% of the stock is currently owned by hedge funds and other institutional investors.

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.