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

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $23.05 and traded as high as $24.55. Perma-Pipe International shares last traded at $23.60, with a volume of 66,144 shares.

Analysts Set New Price Targets

Several equities analysts have weighed in on PPIH shares. Wall Street Zen cut Perma-Pipe International from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Perma-Pipe International in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Perma-Pipe International Price Performance

The company has a market capitalization of $191.02 million, a PE ratio of 19.03 and a beta of 0.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.64 and a current ratio of 1.88. The stock has a 50 day moving average price of $25.99 and a two-hundred day moving average price of $23.05.

Perma-Pipe International (NASDAQ:PPIH) last released its quarterly earnings data on Monday, September 15th. The industrial products company reported $0.10 EPS for the quarter. The firm had revenue of $47.90 million for the quarter. Perma-Pipe International had a return on equity of 13.92% and a net margin of 5.55%.

Institutional Investors Weigh In On Perma-Pipe International

Several institutional investors and hedge funds have recently modified their holdings of the business. Qube Research & Technologies Ltd bought a new stake in Perma-Pipe International in the third quarter worth $208,000. Bank of America Corp DE lifted its position in shares of Perma-Pipe International by 275.8% in the third quarter. Bank of America Corp DE now owns 4,472 shares of the industrial products company’s stock worth $105,000 after buying an additional 3,282 shares during the last quarter. Cannell Capital LLC boosted its stake in shares of Perma-Pipe International by 29.0% during the 3rd quarter. Cannell Capital LLC now owns 121,170 shares of the industrial products company’s stock worth $2,839,000 after acquiring an additional 27,259 shares in the last quarter. Wolverine Trading LLC acquired a new position in shares of Perma-Pipe International during the 3rd quarter valued at about $354,000. Finally, UBS Group AG increased its holdings in shares of Perma-Pipe International by 7,873.9% during the 3rd quarter. UBS Group AG now owns 26,234 shares of the industrial products company’s stock valued at $615,000 after acquiring an additional 25,905 shares during the last quarter. Institutional investors and hedge funds 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.