Perma-Pipe International (NASDAQ:PPIH) Stock Passes Above 200-Day Moving Average of $9.46

Shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIHGet Rating) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.46 and traded as high as $11.01. Perma-Pipe International shares last traded at $10.86, with a volume of 3,406 shares changing hands.

Analysts Set New Price Targets

Separately, TheStreet raised Perma-Pipe International from a “c+” rating to a “b-” rating in a research report on Friday, October 7th.

Perma-Pipe International Stock Down 0.6 %

The company has a market capitalization of $86.92 million, a P/E ratio of 15.74 and a beta of 0.23. The stock has a 50 day moving average price of $9.63 and a 200 day moving average price of $9.46. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 1.88.

Perma-Pipe International (NASDAQ:PPIHGet Rating) last released its earnings results on Tuesday, December 6th. The industrial products company reported $0.21 earnings per share for the quarter. Perma-Pipe International had a net margin of 3.93% and a return on equity of 10.54%. The firm had revenue of $37.90 million for the quarter.

Hedge Funds Weigh In On Perma-Pipe International

Institutional investors and hedge funds have recently bought and sold shares of the company. Northern Trust Corp bought a new stake in shares of Perma-Pipe International in the second quarter valued at $115,000. SVB Wealth LLC increased its holdings in Perma-Pipe International by 3.3% in the 2nd quarter. SVB Wealth LLC now owns 39,054 shares of the industrial products company’s stock worth $351,000 after acquiring an additional 1,239 shares during the last quarter. Cannell Capital LLC raised its stake in Perma-Pipe International by 64.4% in the 1st quarter. Cannell Capital LLC now owns 45,044 shares of the industrial products company’s stock valued at $425,000 after acquiring an additional 17,645 shares during the period. Baird Financial Group Inc. raised its stake in Perma-Pipe International by 149.4% in the 1st quarter. Baird Financial Group Inc. now owns 148,118 shares of the industrial products company’s stock valued at $1,397,000 after acquiring an additional 88,728 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Perma-Pipe International by 1.3% during the second quarter. Renaissance Technologies LLC now owns 225,693 shares of the industrial products company’s stock valued at $2,031,000 after purchasing an additional 2,901 shares during the last quarter. 23.93% of the stock is owned by institutional investors.

Perma-Pipe International Company Profile

(Get Rating)

Perma-Pipe International Holdings, Inc engages in the design, manufacture, and sale of specialty piping and leak detection systems. Its products include industrial and secondary containment piping systems for transporting chemicals, hazardous fluids and petroleum products, insulated and jacketed district heating and cooling piping systems for efficient energy distribution to multiple locations from central energy plants, and the coating and/or insulation of oil and gas gathering flow and long lines for oil or mineral transportation.

Further Reading

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