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

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) shares 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 company has a market cap of $117.15 million, a price-to-earnings ratio of 7.45 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 company has a fifty day moving average of $15.19 and a two-hundred day moving average of $12.45.

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

Hedge Funds Weigh In On Perma-Pipe International

A number of hedge funds have recently made changes to their positions in PPIH. Dimensional Fund Advisors LP boosted its holdings in Perma-Pipe International by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 447,168 shares of the industrial products company’s stock valued at $3,980,000 after acquiring an additional 4,309 shares during the last quarter. Renaissance Technologies LLC boosted its stake 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 valued at $1,543,000 after purchasing an additional 3,119 shares during the last quarter. Geode Capital Management LLC increased its position in shares of 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 buying an additional 7,273 shares during the period. Essex Investment Management Co. LLC bought a new position in Perma-Pipe International during the third quarter worth $190,000. Finally, Ritholtz Wealth Management acquired a new position in Perma-Pipe International in the fourth quarter valued at $173,000. 28.43% of the stock is currently owned by institutional investors.

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.