Perma-Pipe International (NASDAQ:PPIH) Stock Passes Above 200 Day Moving Average – Time to Sell?

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.21 and traded as high as $28.53. Perma-Pipe International shares last traded at $27.87, with a volume of 94,882 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PPIH. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Perma-Pipe International in a research report on Wednesday. Wall Street Zen lowered shares of Perma-Pipe International from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 20th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Perma-Pipe International Stock Down 1.2%

The company has a 50-day moving average of $26.60 and a 200-day moving average of $22.21. The company has a market capitalization of $225.58 million, a price-to-earnings ratio of 22.48 and a beta of 0.50. The company has a current ratio of 1.88, a quick ratio of 1.64 and a debt-to-equity ratio of 0.05.

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

Institutional Trading of Perma-Pipe International

Large investors have recently made changes to their positions in the business. American Century Companies Inc. raised its holdings in shares of Perma-Pipe International by 81.3% during the first quarter. American Century Companies Inc. now owns 57,465 shares of the industrial products company’s stock worth $714,000 after purchasing an additional 25,763 shares during the last quarter. Raymond James Financial Inc. raised its stake in shares of Perma-Pipe International by 1,960.8% during the 1st quarter. Raymond James Financial Inc. now owns 657,501 shares of the industrial products company’s stock valued at $8,173,000 after buying an additional 625,596 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Perma-Pipe International by 8.8% in the 1st quarter. Empowered Funds LLC now owns 20,101 shares of the industrial products company’s stock valued at $250,000 after buying an additional 1,626 shares during the period. Jane Street Group LLC boosted its stake in shares of Perma-Pipe International by 55.2% in the first quarter. Jane Street Group LLC now owns 18,505 shares of the industrial products company’s stock worth $230,000 after buying an additional 6,583 shares during the last quarter. Finally, Ellsworth Advisors LLC purchased a new stake in shares of Perma-Pipe International in the first quarter worth about $581,000. 28.43% of the stock is owned by hedge funds and other institutional investors.

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.