Perma-Pipe International (NASDAQ:PPIH) Share Price Passes Below 200 Day Moving Average of $7.57

Posted by Carolyn Dwyer on Apr 24th, 2024

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH – Get Free Report)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.57 and traded as low as $6.85. Perma-Pipe International shares last traded at $6.85, with a volume of 13,941 shares traded.

Analyst Ratings Changes

Separately, TheStreet upgraded shares of Perma-Pipe International from a “c+” rating to a “b-” rating in a research report on Friday, January 19th.

Check Out Our Latest Analysis on PPIH

Perma-Pipe International Price Performance

The business’s 50-day moving average price is $7.78 and its 200 day moving average price is $7.56. The company has a quick ratio of 1.37, a current ratio of 1.65 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $58.30 million, a P/E ratio of 11.66 and a beta of 0.29.

Institutional Investors Weigh In On Perma-Pipe International

A hedge fund recently raised its stake in Perma-Pipe International stock. Cannell Capital LLC raised its stake in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH – Free Report) by 10.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,492 shares of the industrial products company’s stock after purchasing an additional 12,500 shares during the quarter. Cannell Capital LLC owned 1.69% of Perma-Pipe International worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 28.43% of the company’s stock.

About Perma-Pipe International

(Get Free Report)

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.