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

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.45 and traded as high as $14.68. Perma-Pipe International shares last traded at $14.68, with a volume of 28,374 shares changing hands.

Perma-Pipe International Stock Performance

The firm has a market capitalization of $117.15 million, a PE ratio of 7.45 and a beta of 0.32. The business has a 50-day simple moving average of $15.19 and a 200-day simple moving average of $12.45. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.64.

Perma-Pipe International (NASDAQ:PPIH) last released 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 return on equity of 23.41% and a net margin of 10.33%.

Institutional Investors Weigh In On Perma-Pipe International

Institutional investors have recently made changes to their positions in the company. Ritholtz Wealth Management purchased a new stake in shares of Perma-Pipe International in the fourth quarter worth approximately $173,000. Geode Capital Management LLC raised its holdings in shares of Perma-Pipe International by 9.7% in the third quarter. Geode Capital Management LLC now owns 82,269 shares of the industrial products company’s stock valued at $1,068,000 after acquiring an additional 7,273 shares in the last quarter. State Street Corp purchased a new stake in shares of Perma-Pipe International in the 3rd quarter worth approximately $140,000. Essex Investment Management Co. LLC purchased a new stake in Perma-Pipe International during the third quarter worth $190,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Perma-Pipe International by 1.8% during 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. 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.