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

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $13.11 and traded as high as $15.09. Perma-Pipe International shares last traded at $14.95, with a volume of 12,045 shares traded.

Perma-Pipe International Stock Performance

The company has a market cap of $119.30 million, a price-to-earnings ratio of 7.59 and a beta of 0.32. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.64 and a current ratio of 1.94. The stock’s fifty day simple moving average is $15.32 and its two-hundred day simple moving average is $13.11.

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 (EPS) for the quarter. Perma-Pipe International had a return on equity of 23.41% and a net margin of 10.33%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PPIH. State Street Corp purchased a new position in shares of Perma-Pipe International in the 3rd quarter valued at $140,000. Geode Capital Management LLC grew its stake 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 buying an additional 7,273 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in Perma-Pipe International during the 3rd quarter worth approximately $190,000. Ritholtz Wealth Management purchased a new position in Perma-Pipe International in the 4th quarter worth approximately $173,000. Finally, Raymond James Financial Inc. acquired a new stake in Perma-Pipe International in the fourth quarter valued at approximately $477,000. Hedge funds and other 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.