Perma-Pipe International (NASDAQ:PPIH) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $27.80 and traded as high as $31.62. Perma-Pipe International shares last traded at $31.46, with a volume of 80,702 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wall Street Zen raised Perma-Pipe International from a “hold” rating to a “strong-buy” rating in a report on Saturday, December 13th. Loop Capital set a $36.00 price target on shares of Perma-Pipe International in a research report on Tuesday, December 16th. Finally, Weiss Ratings upgraded shares of Perma-Pipe International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Perma-Pipe International has an average rating of “Buy” and an average target price of $36.00.

Perma-Pipe International Price Performance

The company has a current ratio of 1.76, a quick ratio of 1.53 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $30.68 and a 200 day moving average price of $27.82. The stock has a market capitalization of $254.51 million, a price-to-earnings ratio of 18.51 and a beta of 0.51.

Perma-Pipe International (NASDAQ:PPIH) last released its quarterly earnings results on Friday, December 12th. The industrial products company reported $0.77 earnings per share for the quarter. The company had revenue of $61.15 million during the quarter. Perma-Pipe International had a return on equity of 18.12% and a net margin of 6.91%.

Institutional Trading of Perma-Pipe International

Several large investors have recently made changes to their positions in PPIH. Bank of America Corp DE lifted its holdings in Perma-Pipe International by 1,730.8% in the 2nd quarter. Bank of America Corp DE now owns 1,190 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 1,125 shares in the last quarter. U S Global Investors Inc. grew its stake in Perma-Pipe International by 400.0% during the 3rd quarter. U S Global Investors Inc. now owns 5,000 shares of the industrial products company’s stock valued at $117,000 after acquiring an additional 4,000 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Perma-Pipe International during the 3rd quarter valued at about $208,000. Corsair Capital Management L.P. acquired a new stake in Perma-Pipe International in the 2nd quarter valued at about $214,000. Finally, Calamos Advisors LLC purchased a new position in Perma-Pipe International in the 3rd quarter worth approximately $223,000. 28.43% of the stock is currently owned by hedge funds and other institutional investors.

About Perma-Pipe International

Perma-Pipe International Holdings Ltd. is a publicly traded company on the NASDAQ under the symbol PPIH that specializes in the design, manufacture and installation of prefabricated piping systems. Its core business revolves around factory-assembled thermal insulation and corrosion protection solutions, including pre-insulated pipe, heat tracing, field-applied jackets and specialty spool pieces. These engineered systems are custom-built to industry specifications and are used to maintain temperatures, control heat loss and extend the life of critical piping infrastructure.

The company’s products and services serve a diverse range of end markets, with primary focus on oil and gas production, petrochemical processing, power generation, district energy, and industrial facilities.