Perma-Pipe International (NASDAQ:PPIH) Shares Pass Above Two Hundred Day Moving Average of $8.27

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.27 and traded as high as $9.08. Perma-Pipe International shares last traded at $9.08, with a volume of 8,079 shares traded.

Perma-Pipe International Stock Performance

The firm has a market capitalization of $72.82 million, a price-to-earnings ratio of 5.57 and a beta of 0.27. The company has a quick ratio of 1.41, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average price of $8.72 and a 200 day moving average price of $8.27.

Perma-Pipe International (NASDAQ:PPIH) last announced its quarterly earnings data on Thursday, June 13th. The industrial products company reported $0.18 EPS for the quarter. Perma-Pipe International had a return on equity of 21.23% and a net margin of 8.39%. The business had revenue of $34.32 million during the quarter.

Institutional Investors Weigh In On Perma-Pipe International

Institutional investors have recently added to or reduced their stakes in the business. Arlington Financial Advisors LLC purchased a new stake in Perma-Pipe International in the first quarter valued at approximately $118,000. Cannell Capital LLC lifted its stake in Perma-Pipe International by 10.1% in the third quarter. Cannell Capital LLC now owns 136,492 shares of the industrial products company’s stock valued at $1,115,000 after buying an additional 12,500 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake 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 last quarter. Hedge funds and other institutional investors own 28.43% of the company’s stock.

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.